Question

Concord Corporation's accounting records reflect the following inventories: Dec. 31. 2017 Dec. 31 2016 $380000 $330000 Raw materials inventory Work in process inventory Finished goods inventory 300000 160000 190000 150000 During 2017, $880000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Concord Corporation's total manufacturing costs incurred in 2017 amounted to $2190000 $2000000 $2140000 $2100000 Sweater Attempts of lused Submit Answer 3

Answer 1

Answer requirements as follows: с $ $ A 1 Particulars 2 Beginning raw material 3 Raw material purchase 4 Less: Ending raw material 5 Raw material consumed 6 Direct labour 7 Manufacturing overhead 8 Total manufacturing cost B Amount 3,30,000 8,80,000 -3,80,000 $ $ $ 8,30,000 6,70,000 6,40,000 21,40,000 S Hence, $2140000 (third option) is correct answer.