Homework Answers
32.
The appropriate order of presentation of the inventory accounts on the balance sheet of manufacturing company is finished goods, work in process, raw materials.
Correct option is 3.
33.
Direct materials used = Beginning inventory + Purchases - Ending inventory
= 40,000+123,200-20,800
= $142,400
Prime cost = Direct materials used + Direct manufacturing labor
= 142,400+32,000
= $174,400
Correct option is 4.
34.
Conversion cost = Direct manufacturing labor + Manufacturing overhead
= 32,000+24,000
= $56,000
Correct option is 1.
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