Solved

Seascape Interiors Produces Artist Supplies Compute:
A

Question 41

Essay

Seascape Interiors produces artist supplies.Listed below are the costs of production and inventory.
 Direct Labor $60,000 Raw Materizls Inventory, Aug. 1 25,000 Raw Materials Purchases 70,000 Rew Materials Inventory, Aug. 3129,000 Overhead 50,000 Work-in-Process inventory Aug. 1 27,000 Work-in-Process Inventory Aug. 3121,000 Finished Goods Inventory Aug. 3118,000\begin{array} { l l } \text { Direct Labor } & \$ 60,000 \\\text { Raw Materizls Inventory, Aug. 1 } & 25,000 \\\text { Raw Materials Purchases } & 70,000 \\\text { Rew Materials Inventory, Aug. } 31 & 29,000 \\\text { Overhead } & 50,000 \\\text { Work-in-Process inventory Aug. 1 } & 27,000 \\\text { Work-in-Process Inventory Aug. } 31 & 21,000 \\\text { Finished Goods Inventory Aug. } 31 & 18,000\end{array} Compute:
a.Cost of raw materials used in production
b.Total manufacturing costs
c.Total cost of goods manufactured

Correct Answer:

verifed

Verified

a.$66,000 (25,000 + 70,000 - 2...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents