Business, 11.02.2021 18:10 pamelperezz26

Reimel Furniture Company, Inc., incurred the following costs during 20x2. Raw material used $ 172,000 Direct labor 320,000 During 20x2, manufacturing overhead of $170,000 was applied to production. Products costing $120,000 were finished, and products costing $132,000 were sold on account for $195,000. There were no purchases of raw material during the year. The beginning balances in the firm’s inventory accounts are as follows: Raw material $ 226,000 Work in process 14,000 Finished goods 30,000 Prepare a partial balance sheet and a partial income statement to reflect the information given above.

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Reimel Furniture Company, Inc., incurred the following costs during 20x2. Raw material used $ 172,00...