Question
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $250,000 and incurred direct labor cost of $120,000. Overhead totaled $325,000 for the
Cost of Goods Sold
In September, Lauren Ashley Company purchased materials costing $250,000 and incurred direct labor cost of $120,000. Overhead totaled $325,000 for the month. Information on inventories was as follows:
| September 1 | September 30 | ||
| Materials | $120,000 | $130,000 | |
| Work in process | 80,000 | 90,000 | |
| Finished goods | 70,000 | 65,000 |
Required:
What was the cost of goods sold for September? $
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
11th edition
1111571260, 978-1111571269
