Question

Bonita Industries's accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016 Raw materials...

Bonita Industries's accounting records reflect the following inventories:

Dec. 31, 2017 Dec. 31, 2016
Raw materials inventory $370000 $320000
Work in process inventory 300000 160000
Finished goods inventory 190000 150000


During 2017, $870000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000.
Bonita Industries's total manufacturing costs incurred in 2017 amounted to

Homework Answers

Answer #1
Ans. Particulars Amount
Direct materials :
Beginning raw materials inventory $320,000
Add: Purchase of raw materials $870,000
Raw materials available $1,190,000
Less: Ending raw materials inventory -$370,000
Direct materials used (A) $820,000
Direct labor (B) $670,000
Manufacturing overhead incurred $640,000
Total manufacturing costs (A+B+C) $2,130,000
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