Accounting 1c help help help

timer Asked: Feb 11th, 2016

Question description

ABC has the following inventory amounts on 1/1: Raw materials 10, WIP 40, Finished Goods 15. During the year ABC purchased Raw Materials of 55. At year end, (12/31) the inventory amounts were Raw Materials 12, WIP 28 and Finished Goods 16. Direct Labor during the year was 30 and manufacturing overhead was 24. What was the cost of goods transferred to Finished Goods during the year?

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