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The following information has been taken from the perpetual inventory system of Jaxson Manufacturing Co. for the month ended September 30:
Hint: The missing Ending Materials Inventory amount on Sept 30 should be a simple calculation based on the information given. You will be asked to solve for various amounts based on your understanding of the relationships between these accounts, as we discussed.
Purchases of direct materials$87,000 Direct materials used$66,800 Direct labor costs assigned to production$45,000 Manufacturing overhead costs incurred$47,500
Balances in inventorySept 30Sept 1Materials$? 59,000 Work in Process$37,000 52,500 Finished Goods$64,000 69,000
Total manufacturing costs added to Work in Process during September amount to:
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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