What is value of the inventory that was shipped to customers

Assignment Help Accounting Basics

Reference no: EM132216399

Question - Loraine Company has the following details for the month:

Raw materials:

Purchased during the month - 50,000

Labor:

Direct labor cost incurred - 67,000

Manufacturing overhead costs incurred - 20,900

Inventories:

Raw materials August 1 - 13,000

Raw materials August 31 - 19,000

Work in process, August 1 - 11,600

Work in process, August 31 - 16,000

Finished Goods, August 1 - 30,000

Finished Goods, August 31 - 15,000

You will need to put together a statement of CGM and CGS to answer these questions.

How much was transferred from the assembly line to the warehouse?

How much is still in the warehouse?

What is the total that was added to the assembly line this period?

How much is still in the raw materials cage?

What is the value of the inventory that was shipped to customers?

How much was transferred from the raw materials cage to the assembly line?

If sales were $165.000, what was the Gross Profit?

Reference no: EM132216399

Questions Cloud

What are the pros and cons of judicial elections : What are some of the challenges a Plaintiff faces in filing a civil action for damages against a large corporation?

Create two memes that express the theme of each play : You will create two memes that express the theme of each play, A Raisin in the Sun and Andre's Mother, one image for each play.

What volumetric flowrate of air into the cooler : What volumetric flowrate of air into the cooler (m3/min) is required to produce 50 kg/min of condensed water

How will your past experiences impact your career : Incorporate a discussion about "Your Role as a Practitioner-Academic" as discussed in the presentation. How will your past experiences impact your career?

What is value of the inventory that was shipped to customers : You will need to put together a statement of CGM and CGS to answer these questions. What is the value of the inventory that was shipped to customers

Developing a detailed and in-depth outline : Developing a detailed and in-depth outline on the Discussion Board will greatly help you when you begin drafting in Unit 6. Be sure to take to extra time.

What is the utilization of service system : What is the utilization of this service system? What is the average number of students in line?

Risk and crisis communication have equal weight : Do you think Risk and Crisis communication have equal weight?

Prepare a single-step income statement : In its income statement for the year ended December 31, 2019, Wildhorse Co. Prepare a multiple-step income statement. Prepare a single-step income statement

User Account

All Pages