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QUESTION 8 The Walker Products Company, a small manufacturing company, produces a highly flammable cleaning fluid.
The sales for the first five months of 19F were $150,000; raw materials purchases were $50,000; freight on purchases was $5,000; direct labor for the five months was $40,000. For the past five years, factory overhead was 50% of direct labor cost.
You are required to determine the value of the work in
Process inventory lost by Fire.