Question
37)Xia Company manufactures a single product. All raw materials used were direct materials. Current information for company follows: Beginning raw materials inventory Ending raw
37)Xia Company manufactures a single product. All raw materials used were direct materials. Current information for company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases Beginning work in process inventory Ending work in process inventory Direct labor used Total factory overhead incurred Beginning finished goods inventory Ending finished goods inventory $ 14,000 17,000 91,000 26,000 36,000 116,000 91,000 66,000 46,000 The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are: Cost of Materials Used Option A $91,000 Option B $94,000 Cost of Goods Manufactured $285,000 $285,000 Cost of Goods Sold $265,000 $305,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started