Answer:
a. $100
b. $230
c. $805
d. $220
e. $1,770
f. $30
Explanation:
a. Direct material inventory 10/31
Direct material inv. 10/1/2013 $85
Add: Direct materials purchased $370
Direct materials available for productions $455
Less: direct materials used ($355)
Direct materials inventory 10/31 $100
b. Fixed manufacturing overhead costs for October
Total manufacturing overhead costs $470
Less: Variable manufacturing overhead costs ($240)
Fixed manufacturing overhead costs for October $230
c. Direct manufacturing labor costs for October
Total manufacturing costs $1,630
Less : direct material used ($355)
Total manufacturing overhead costs ($470)
Direct manufacturing labor costs for October $805
d. Work in process inventory 10/31
Work in process inventory 10/1/2013 $220
Add : total manufacturing costs $1,630
Work in process available for production $1,850
Less: cost of goods manufactured ($1,630)
Work in process inventory 10/31/2014 $220
e. Cost of finished goods available for sale in October 6
Finished goods inventory 10/1/2013 $140
Add: costs of goods manufactured $1,630
Finished goods inventory 10/01/2013 $1,770
f. Finished goods inventory 10/31/2013
Finished goods available for sale in October $1,770
Less: cost of goods sold ($1,740)
Finished goods inventory 10/31/2013
$30
