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H3Ko H3Ko
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8 years ago
On January 1, Alistair Manufacturing had a beginning balance in Work-in-Process Inventory of $164,000 and a beginning balance in Finished Goods Inventory of $25,000. During the year, Alistair incurred manufacturing costs of $202,000.

During the year, the following transactions occurred:
Job C-62 was completed for a total cost of $140,000 and was sold for $157,000.
Job C-63 was completed for a total cost of $181,000 and was sold for $212,000.
Job C-64 was completed for a total cost $82,000 but was not sold as of year-end.

The Manufacturing Overhead account had an unadjusted credit balance of $24,000 and was adjusted to zero at year-end.

What was the amount of gross profit reported by Alistair at the end of the year?
A) $72,000
B) $31,000
C) $17,000
D) $48,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
7 years ago
I'm liking this Slight Smile
A7
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#4
4 years ago
Thanks so much for the explanation
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thanks
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#6
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thanks
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thank you
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thank you
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#9
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Thank you
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ty
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