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At the beginning of the year, Conway Manufacturing had the following account ...

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7 years ago

At the beginning of the year, Conway Manufacturing had the following account ...

At the beginning of the year, Conway Manufacturing had the following account balances:

   Work-in-Process Inventory
20,000

   Finished Goods Inventory
8,000

   Manufacturing Overhead
0

   Cost of Goods Sold
0

   Sales Revenue
   0

The following additional details are provided for the year:

Direct materials placed in production   $82,400
Direct labor incurred   190,000
Manufacturing overhead incurred   301,000
Manufacturing overhead allocated to production   295,900
Cost of jobs completed and transferred   501,000

The ending balance in the Work-in-Process Inventory account is a ________.
A) credit of $2,000
B) debit of $2,000
C) debit of $69,300
D) credit of $69,300

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 964 times

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H3Ko Author

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7 years ago

Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.

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Adam C.

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Thank you

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Thank you

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thanks!

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Ella C.

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