FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Vaughn Manufacturing's accounting records reflect the following inventories:
Dec. 31, 2017 Dec. 31. 2016
Raw materials inventory
$350000
$290000
Work in process inventory
300000
160000
Finished goods inventory
190000
150000
During 2017, $840000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing
overhead incurred was $640000.
vaughn Manufacturing's total manufacturing costs incurred in 2017 amounted to
$2090000.
$2050000.
$1950000.
$2150000.
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Transcribed Image Text:Vaughn Manufacturing's accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31. 2016 Raw materials inventory $350000 $290000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000 During 2017, $840000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. vaughn Manufacturing's total manufacturing costs incurred in 2017 amounted to $2090000. $2050000. $1950000. $2150000.
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