FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 30:

 

Purchases of direct materials   $55,000
Direct materials used   $45,000
Direct labor costs assigned to production   $20,000
Manufacturing overhead costs incurred (and applied)   $30,000
Balances in inventory August 30 August 1
Materials $? $20,000
Work in Process $60,000 $42,000
Finished Goods $55,000 $38,000 40.

Total manufacturing costs charged (debited) to work in process during August amount to:

a. $100,000.

b. $110,000.

c. $95,000.

d. Some other amount.

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