Reference no: EM132632685
Below are given the balances in selected accounts of the CAROL COMPANY:
Beginning inventory: Finished goods ......................................$14
Beginning inventory: Raw materials.............................................3
Beginning inventory: Work-in-process.........................................5
Direct labor.....................................................................................15
Ending inventory: Finished goods ..............................................25
Ending inventory: Raw material................................................... 4
Ending inventory: Work-in-process .............................................2
Manufacturing overhead applied..................................................7
Manufacturing overhead incurred................................................9
Operating expenses.........................................................................7
Raw materials purchased.............................................................15
Sales..................................................................................................75
REQUIRED:
Question a. Total manufacturing costs were
Question b. Cost of goods manufactured was
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