Question
A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $150,000 Work in Process Inventory $140,000 Finished Goods Inventory $160,000 Direct
A company's trial balance shows the following balances:
Account | Balance ($) |
Raw Materials Inventory | $150,000 |
Work in Process Inventory | $140,000 |
Finished Goods Inventory | $160,000 |
Direct Labor | $180,000 |
Factory Rent | $75,000 |
Factory Utilities | $40,000 |
Prepare a cost of goods sold statement using absorption costing method.
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
