Amount transferred from wip to finished goods, Managerial Accounting

HGT Company initialized the accounting period with the following beginning balances:
        
During the accounting period, the company purchased $60,000 of raw materials and ended the period with $16,000 in raw material inventory. Direct labor costs for the period were $120,000 and $36,000 of manufacturing overhead costs was allocated to work in process. There was no over or under applied overhead. Ending work in process was $82,000 and ending finished goods inventory was $35,000. Goods were sold during the period for revenue of $350,000. The amount of cost of goods manufactured (i.e., amount transferred from WIP to finished goods) would be?

Posted Date: 3/14/2013 8:20:41 AM | Location : United States







Related Discussions:- Amount transferred from wip to finished goods, Assignment Help, Ask Question on Amount transferred from wip to finished goods, Get Answer, Expert's Help, Amount transferred from wip to finished goods Discussions

Write discussion on Amount transferred from wip to finished goods
Your posts are moderated
Related Questions
Compute the Expected Return and Risk of a Portfolio? The subsequent data are presented to you as a portfolio manager Security Expected Return

If a company creates sales to a number of customers on credit terms this will have to wait for two or still three months before its debtors pay that they owe. It means that the deb

XYZ Industries manufactures electronic testing equipment. XYZ also installs the equipment at customers' sites and ensures that it functions smoothly. Additional information on the

Transportation model In the obvious sense, the model deals with the determination of a minimum cost plan for transporting a single commodity from a number of sources (e.g. factor

Advantages of Simulation 1) It can be used in areas where analytical techniques are not available or would be too complex. 2) Constructing the model inevitably must involve


The Rohr Company’s old equipment for making subassemblies is worn out. The company is considering two courses of action: (a) Completely replacing the old equipment with new equipme

Explain about Cost centre: Meaning & definition: cost centre is defined as a location, person or item of equipment (or group of them) in respect which costs may be ascertaine

Explain about Office and administrative expenses These expenses are not related to factory but they pertain to the management and administration of the business. Such expenses

What is Zero bases budgeting (ZBB) Meaning and definition Zero base budgeting is a management tool for providing a sys tem for a careful consideration of actual in