Question Details

What was the beginning Finished Goods Inventory balance on 1/1



1.	Alcatraz Corp has the following information:
  
	Beginning inventory
(1/1)	Ending inventory
(12/31)
Raw material inventory	$ 20,000	$30,000
Work in process inventory	$15,000	$18,000
Finished goods inventory 	$30,000	$20,000

Additional information for the year is as follows:
  
Raw materials purchases	$100,000
Direct labor	$75,000
Manufacturing overhead applied	$80,000
Indirect materials	$0

Compute the unadjusted cost of goods sold. 
A. $133,000
B. $242,000
C. $252,000
D. $255,000
2.	Carmella Inc had the following information for the preceding year:
  
	Beginning inventory
(1/1)	Ending inventory
(12/31)
Raw material inventory	$ 40,000	$30,000
Work in process inventory	$35,000	??
Finished goods inventory 	$30,000	??

Additional information for the year is as follows:
  
Direct materials used	$200,000
Direct labor	$150,000
Manufacturing overhead applied	$160,000
Cost of goods manufactured	$525,000
Cost of goods sold	$544,000

What was the ending Work in Process Inventory balance on 12/31? 
A. $20,000
B. $11,000
C. $50,000
D. $54,000
 
3.	Carmella Inc had the following information for the preceding year: 

	Beginning inventory
(1/1)	Ending inventory
(12/31)
Raw material inventory	$ 40,000	$30,000
Work in process inventory	$35,000	??
Finished goods inventory 	$30,000	??

Additional information for the year is as follows:
  

Direct materials used	$200,000
Direct labor	$150,000
Manufacturing overhead applied	$160,000
Cost of goods manufactured	$525,000
Cost of goods sold	$544,000

What was the ending Finished Goods Inventory balance on 12/31? 
A. $20,000
B. $11,000
C. $50,000
D. $54,000
 
4.	 Homer Inc had the following information for the preceding year:
  
	Beginning inventory
(1/1)	Ending inventory
(12/31)
Work in process inventory	??	$35,000
Finished goods inventory 	??	$30,000

Additional information for the year is as follows:
  
Direct materials used	$200,000
Direct labor	$150,000
Manufacturing overhead applied	$160,000
Cost of goods manufactured	$525,000
Cost of goods sold	$544,000

What was the beginning Work in Process Inventory balance on 1/1? 
A. $49,000
B. $65,000
C. $50,000
D. $69,000
 
5.	Homer Inc had the following information for the preceding year:
  
	Beginning inventory
(1/1)	Ending inventory
(12/31)
Work in process inventory	??	$35,000
Finished goods inventory 	??	$30,000

Additional information for the year is as follows:
  
Direct materials used	$200,000
Direct labor	$150,000
Manufacturing overhead applied	$160,000
Cost of goods manufactured	$525,000
Unadjusted cost of goods sold	$544,000

What was the beginning Finished Goods Inventory balance on 1/1? 
A. $49,000
B. $65,000
C. $50,000
D. $69,000




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