Ask Question
2 October, 09:40

Lakeside Company's schedule of cost of good manufactured include the following for April:Cost of Goods Manufactured $69,300Direct Materials Used $27,000Direct Labor Used $30,000Work in Process Inventory, April 1, 2005 $9,000Manufacturing overhead is applied for $8,000. Work in process inventory at April 30:

+5
Answers (1)
  1. 2 October, 10:59
    0
    Work in process inventory at April 30 is $4,700

    Explanation:

    In this question, we apply the cost of goods manufactured formula which is shown below:

    Cost of goods manufactured = Opening balance of work in progress + total manufacturing cost - ending balance of work in progress

    where,

    Total manufacturing cost = Direct material + direct labor + overhead

    = $27,000 + $30,000 + $8,000

    = $65,000

    So, the ending balance work in progress equal to

    = $9,000 + $65,000 - $69,300

    = $4,700
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Lakeside Company's schedule of cost of good manufactured include the following for April:Cost of Goods Manufactured $69,300Direct Materials ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers