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Calculate XYZ Company's: A)Cost of Goods Manufactured for 2020 B)Conversion costs for 2020 C)Sales Commission for 2020 XYZ Company recorded the following information related to
Calculate XYZ Company's:
A)Cost of Goods Manufactured for 2020
B)Conversion costs for 2020
C)Sales Commission for 2020
XYZ Company recorded the following information related to their inventory accounts for 2020: Direct materials Work in process Finished goods January 1, 2020 50,000 38,000 32,000 December 31, 2020 37,000 41,000 34,000 The following costs were taken from XYZ Company's accounting records for 2020: $129,000 37,000 590,000 30,000 Sales revenue ......................................... : : Direct materials purchased ....... .................. Depreciation, factory equipment ......................... Sales revenue Utilities (60% for factory; 40% for office building) Sales commissions ............. Indirect materials. ................... Depreciation, office equipment Rent, factory building .............. Net income Direct labor ..................... Advertising Production supervisor's salary ......... ........ : ........................ 29,000 33,000 60,000 10,000 90,000 57,000 82,000 ....... Assume that the actual overhead cost for 2020 was equal to the overhead applied to production. Thus there was no overhead variance for 2020
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