Author Question: The following information is available for the Petree Corporation for last year: Raw materials ... (Read 58 times)

sammy · **on:** Jan 4, 2020

The following information is available for the Petree Corporation for last year:

∙	Raw materials inventory decreased $4,000 from the beginning of the year to the end of the year.

∙	Raw materials inventory on December 31(end of year) was 50% of raw materials inventory on

January 1 (beginning of year).

∙	Beginning work in process inventory was $145,000.

∙	Ending finished goods inventory was $65,000.

∙	Purchases of direct materials were $154,700.

∙	Manufacturing overhead was 50% of the cost of direct labour.

∙	Total manufacturing costs incurred were $246,400, 80% of cost of goods manufactured and

$156,000 less than cost of goods sold.

Compute:
a) Finished goods inventory on January 1(beginning of year)
b) Work in process inventory on December 31(end of year)
c) Direct labour incurred
d) Manufacturing overhead incurred
e) Direct materials used
f) Raw materials inventory on January 1(beginning of year)
g) Raw materials inventory on December 31(end of year)

Note to students: The solutions to this problem are not necessarily calculated in alphabetical order.

sarah_brady415 · **Reply #1 on:** Jan 4, 2020

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 29% of students answer this correctly