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Question -
A) During FY 2018 Bay Manufacturing had total manufacturing costs are $446,000. Their cost of goods manufactured for the year was $501,000. The January 1, 2019 balance of Work-in-Process Inventory is $45,000. Use this information to determine the dollar amount of the FY 2018 beginning Work-in-Process Inventory.
B) Frederick Company's January 1, 2018 finished goods inventory was $40,000. The January 1, 2019 finished goods inventory is $96,000. Cost of goods manufactured for the FY 2018 was $371,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold.
How many units were sold in December? How many units were completed in December
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Prepare all required journal entries, being certain to indicate the type of fund in which each entry would be made.
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