Below are selected T accounts from Bri Cheese Dairy with incomplete information:

Question

Below are selected T accounts from Bri Cheese Dairy with incomplete information:

  Work in Process                

Oct. 1 Balance    20,000 | Oct. 31 Goods

    31 Direct            |          finished       X

         materials 96,700 |

    31 Direct            |

         labor    201,000 |

    31 Factory           |

         overhead       X |

  Finished Goods                

Oct. 1 Balance    52,000 |

    31 Goods             |

         finished 360,000 |

a. $63,300

b. $21,300

c. $42,300

d. $11,300

Explanation / Answer

Bri Chees Dairy ( Pls note the question format pasted in confusing, doing the best as understood for the format) Deatails Date Finished Goods Inventory Amt $ 1-Oct Balance              52,000 31-Oct Finished Goods transferred            360,000 WIP Account Date Debit Amt $ Date Credit Amt $ 1-Oct Opening Balance              20,000 31-Oct Good Finished          360,000.0 31-Oct Direct Materials              96,700 (from Finished goods account) 31-Oct Direct Labor            201,000 31-Oct Factory Overhead (balancing figure)              42,300 Total            360,000 Total          360,000.0 So answer is c.

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