Question
Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Amount Sales $100,000 Cost of Goods
Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Amount Sales $100,000 Cost of Goods Manufactured 75,000 Direct Material Purchased 25,000 Factory Overhead 10,000 Work in Process - January 1 30,000 Work in Process - December 31 15,000 Direct Material - December 31 10,000 Finished Goods Inventory - December 31 60,000 Net Income 15,000 Direct Materials used 30,000 Cost of Goods Sold 55,000 Use this information to prepare a detiled a schudule of cost of goods manufactured for FY 2016. (Round dollar values & enter as whole dollars only.)
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