Question 57 1. The following information has been taken from the perpetual inven
ID: 2444569 • Letter: Q
Question
Question 57
1. The following information has been taken from the perpetual inventory system of Imperial Mfg. Co. for the month ended September 30:
Purchases of direct materials
$72,000
Direct material used
$70,000
direct labor costs assigned to production
$40,000
Manufacturing overhead costs incurred
$60,000
Balances in inventory
30-Sep
1-Sep
Materials
$ ?
$60,000
Work in Process
$35,000
$45,000
Finished Goods
$88,000
$76,000
Total manufacturing costs charged (debited) to Work in Process during September amount to:
A.
$180,000
B.
$170,000
C.
$172,000
D.
Some other amount
Purchases of direct materials
$72,000
Direct material used
$70,000
direct labor costs assigned to production
$40,000
Manufacturing overhead costs incurred
$60,000
Balances in inventory
30-Sep
1-Sep
Materials
$ ?
$60,000
Work in Process
$35,000
$45,000
Finished Goods
$88,000
$76,000
Explanation / Answer
D. Some other amount
Opening Work In Progress = Rs. 45,000
Manufacturing Cost = Rs. 2,42,000
Closing Work In Progress = Rs. (35,000)
2,52,000
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