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Harmony Corporation manufactures and sells a single product, Questions are in file attachment. Thanks, Harmony Corporation manufactures and sells a single product. In preparing the
Harmony Corporation manufactures and sells a single product, Questions are in file attachment. Thanks,
Harmony Corporation manufactures and sells a single product. In preparing the budget for the first quarter, the company's cost accountant has assembled the following information: Sales (budgeted) Finished goods inventory, Jan. 1 (actual) Finished goods inventory, Mar. 31 (budgeted) Cost of finished goods manufactured (budgeted manufacturing cost is $39 per unit) Units 150,000 30,000 20,000 ? Dollars $12,150,000.00 $1,080,000.00 ? ? The company uses the first-in, first-out method of pricing its inventory of finished goods. Instructions Compute the following budgeted quantities or dollar amounts: a. Planned production of finished goods (in units) b. Cost of finished goods manufactured. c. Finished goods inventory, March 31. (Remember to u se the first-in, first-out method in pricing the inventory) d. Cost of goods soldStep by Step Solution
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