The following balances are from the accounts of Secol Machining Company: Direct materials purchased during the year

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The following balances are from the accounts of Secol Machining Company:image text in transcribed

Direct materials purchased during the year amount to \($310,000,\) and the cost of goods sold for the year was \($1,075,000\).


Required

Reconstruct a cost of goods sold statement and fill in the following missing data:

a. Cost of direct materials used during the year.

b. Cost of goods manufactured during the year.

c. Total manufacturing costs incurred during the year.

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Related Book For  book-img-for-question

Fundamentals Of Cost Accounting

ISBN: 0071332618

2nd Edition

Authors: William Lanen, Shannon Anderson

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