Why does an organization prepare a Balance Sheet? A. to reveal what the organization owns and owes at a point in time B. to reve
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Answer:
c. $390,000
Explanation:
WIP Beg 275,000
DM X
DL 450,000
FO 135,000 (30% of labor cost)
Cost added during the period 975,000
-FG 1,030,000
WIP ending 220,000
275,000 + added = 220,000 + 1,030,000
added = 220,000 + 1,030,000 - 275,000 = 975,000
cost added during the period:
DM + DL + FO
DM + 450,000 + 135,000 = 975,000
DM = 975,000 - 450,000 - 135,000 = 390,000