(WIP) ACC 350 Exam 1 Study Material
Work in Process
Work in Process
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P .<br />
7-13 f-<br />
8. The following information has been provided for Hopen Enterprises:<br />
What is the amount of factory overhead?<br />
a. $2,000<br />
b. $2,200<br />
c. $1,400<br />
d. $5,500<br />
Cost of goods manufactured $7,500<br />
Work in process<br />
Beginning 1,200<br />
Ending 1,400<br />
Direct labor 4,000<br />
<strong>Material</strong>s placed in production 1,500<br />
Factory overhead ?<br />
9. Morton Manufacturing shows cost of goods sold for the month of March was $90,000. The<br />
finished goods inventory was $15,000 on March 1 and $17,500 on March 31. Beginning and<br />
ending work-in-process inventories were $20,000 and $25,000, respectively. What was the cost of<br />
goods manufactured during March?<br />
a. $92,500<br />
b. $90,000<br />
c. $87,500<br />
d. $97,500
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