At the beginning of the year, Rupert Manufacturing had the following account balances:
The following additional details are provided for the year:
$\begin{array}{ll}
\text { Direct materials placed in production } & \$ 80,000 \
\text { Direct labor incurred } & 190,000 \
\text { Manufacturing overhead incurred } & 300,000 \
\text { Manufacturing overhead allocated to production } & 295,000 \
\text { Cost of jobs completed } & 500,000 \
\text { Jobs sold for total revenue of } & 750,000 \
\text { Cost of jobs sold } & 440,000
\end{array}$
The remaining balance of Manufacturing Overhead was adjusted to zero. Calculate the ending balances in Work-in-Process Inventory, Finished Goods Inventory, Manufacturing Overhead (unadjusted), and Cost of Goods Sold (after adjustment.)

Question

At the beginning of the year, Rupert Manufacturing had the following account balances:
      The following additional details are provided for the year:
 $\begin{array}{ll}
\text { Direct materials placed in production } & \$ 80,000 \
\text { Direct labor incurred } & 190,000 \
\text { Manufacturing overhead incurred } & 300,000 \
\text { Manufacturing overhead allocated to production } & 295,000 \
\text { Cost of jobs completed } & 500,000 \
\text { Jobs sold for total revenue of } & 750,000 \
\text { Cost of jobs sold } & 440,000
\end{array}$
 The remaining balance of Manufacturing Overhead was adjusted to zero. Calculate the ending balances in Work-in-Process Inventory, Finished Goods Inventory, Manufacturing Overhead (unadjusted), and Cost of Goods Sold (after adjustment.)

Quizplus · Accepted Answer

The Answer of At the beginning of the year, Rupert Manufacturing had the following account balances:
      The following additional details are provided for the year:
 $\begin{array}{ll}
\text { Direct materials placed in production } & \$ 80,000 \
\text { Direct labor incurred } & 190,000 \
\text { Manufacturing overhead incurred } & 300,000 \
\text { Manufacturing overhead allocated to production } & 295,000 \
\text { Cost of jobs completed } & 500,000 \
\text { Jobs sold for total revenue of } & 750,000 \
\text { Cost of jobs sold } & 440,000
\end{array}$
 The remaining balance of Manufacturing Overhead was adjusted to zero. Calculate the ending balances in Work-in-Process Inventory, Finished Goods Inventory, Manufacturing Overhead (unadjusted), and Cost of Goods Sold (after adjustment.)

At the Beginning of the Year, Rupert Manufacturing Had the Following