The following balances appeared in the accounts of Osaka Machine Tool Company during the current year. (y
Question:
The following balances appeared in the accounts of Osaka Machine Tool Company during the current year. (y denotes yen, the Japanese national currency.)
January | December 31 Raw Matera iVenitOt Veen tele ine a ara ieee see 328,000y 366,000y WOlK-In-DlOCESSiINVClILOl y anata tienteenns n an 362,000y 354,000y FInisned-GOOdS INVeENtONy.Asn ss Sac if. serie 146,000y 150, 000y During the year, 1,732,000y of direct material was used in production, and the year’s cost of goods sold was 6,000,000y.
Required Prepare a schedule of cost of goods sold, and fill in the following missing data.
a. Cost of raw material purchased during the year.
b. Cost of goods manufactured during the year.
c. Total manufacturing costs incurred during the year.
Step by Step Answer:
Cost Management Strategies For Business Decisions
ISBN: 12
4th Edition
Authors: Ronald Hilton, Michael Maher, Frank Selto