Reference no: EM133085231
Question - Constanza Company has the following balances as of the year ended December 31, 2010:
Raw Materials Inventory $30,000
WIP Inventory 69,000
Finished Goods Inventory 99,000
Cost of Goods Sold 149,000
Additional information is as follows:
Cost of raw materials purchased during 2010 $82,000
Cost of direct materials required in 2010 74,000
Cost of goods completed during 2010 204,000
Factory overhead applied (120% of direct labor) 96,000
Required -
1. How much is the beginning raw materials inventory?
2. What amount is the beginning WIP inventory?
3. How much is the beginning finished goods inventory?
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