Reimel Furniture Company, Inc. incurred the following costs during 20x2.
Direct materia...
Business, 10.03.2020 04:28, genyjoannerubiera
Reimel Furniture Company, Inc. incurred the following costs during 20x2.
Direct material used $174,000
Direct labor 324,000
Manufacturing overhead 180,000
During 20x2, products costing $120,000 were finished, and products costing $132,000 were sold on account for $195,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows:
Raw material $227,000
Work in process 18,000
Finished goods 30,000
Prepare balance sheet.
Answers: 2
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