chapter 10 # 5

Exercise 10-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 10 3 Rundle Manufacturing Company began operations on January 1. During the year, it started and completed 1,780 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materiels purchased and used $3,250. 2. Wages of production workers $3,510. 3. Solaries of administrative and sales personnel $1,890. 4. Depreciation on manufacturing equipment $5,700. 5. Depreciation on administrative equipment-\$1.830. Rundle sold 1,070 units of product. Required a. Determine the total product cost for the yeat b. Determine the total cost of the ending inventory. (Do not round intermediate calculations.) c. Determine the total of cost of goods sold. (Do not round intermediate calculations.)