EXERCISE 3-10 (30 MINUTES)

30,000 MH × $8 per MH = $240,000.

g. Finished Goods... 520,000

Work in Process ... 520,000

h. Cost of Goods Sold ... 480,000

Finished Goods ... 480,000

Accounts Receivable ... 600,000

Sales... 600,000

$480,000 × 1.25 = $600,000.