on 5 t answeredRaw materials (Dec 1, 2017) d out of 6.00 Raw materials (Dec 31,

Question

on 5 t answeredRaw materials (Dec 1, 2017) d out of 6.00 Raw materials (Dec 31, 2017) Earl Grey runs a company that produces teacups. Earl records th folowing costs for $ 15 Direct materials used Work in process (Dec 1, 2017) Direct labour incurred Manufacturing overhead allocated50 Cost of goods manufactured 120 Flag on 12 170 Answer the following questions for Eart (n '000) (a) What is Earfs cost of raw materials purchased during December?s (b) What is Ear's total cost of work in process for December?s (c) What must be the balance of work in process at December 31.20177 s revious page

Explanation / Answer

a Cost of raw materials purchased = 120+17-15 = $122 b Total cost of work in process = (120+12+50)+60= 242 c Work in Process, December 31 = 242-170= 72

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