Question
ABC Company has the following product costing information for the month of June: Total manufacturing costs $ 150,000 Work in process, June 1 $ 80,000
ABC Company has the following product costing information for the month of June:
Total manufacturing costs $ 150,000
Work in process, June 1 $ 80,000
Work in process, June 30 $ 85,000
Finished goods, June 1 $ 120,000
Finished goods, June 30 $ 100,000
ABCs cost of goods sold for June is:
Beginning WIP + TMC Ending WIP = CGM
| a. | $145,000 | |
| b. | $100,000 | |
| c. | $165,000 | |
| d. | $150,000 |
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
5th edition
978-0077924379, 77924371, 978-0078025396, 78025397, 978-0077425654, 77425650, 978-0077667061
