Reference: 16_05
Refer to the following incomplete table of cost information:
Goods in
Process–
Finished
Grating
Bagging
Goods
Beginning inventory
$10,000
$13,000
$ ?
Costs incurred:
Direct materials
?
12,000
Direct labor
30,000
Overhead applied
45,000
22,500
Costs transferred out
(?
)
Costs transferred in
98,000
150,000
Cost of goods sold
(147,000
Ending inventory
7,000
10,500
25,000
158. What was the cost of goods transferred out of the Grating Department and into the Bagging Department?
159. What was the cost of the goods transferred out of the Bagging Department and into the finished goods inventory?
160. What was the cost of the beginning inventory of finished goods?
161. What was the cost of the direct materials used in the Grating Department?
162. What was the cost of the direct labor used in the Bagging Department?
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