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Hi. I need some managerial accounting help from the Financial and Managerial Accounting for MBAs, 5E textbook Easton, Halsey, McAnally, Hartgraves, Morse. For chapter 18,
Hi. I need some managerial accounting help from the Financial and Managerial Accounting for MBAs, 5E textbook Easton, Halsey, McAnally, Hartgraves, Morse.
For chapter 18, I cant figure out mini exercise 18
Analyzing Activity in Inventory Accounts Selected data concerning operations of Ridgeview Manufacturing Company for the past fiscal year follow: Raw materials used $300,000 Total manufacturing costs charged to production during the year (includes raw materials, direct labor, and manufacturing overhead applied at a rate of 60 percent of direct labor costs) 681,000 Cost of goods available for sale 826,000 Selling and general expenses 30,000 Inventories Raw materials Work-in-process Finished goods Beginning Ending $70,000 $ 80,000 85,000 30,000 90,000 110,000 Determine each of the following (a) Cost of raw materials purchased (b) Direct labor costs charged to production (c) Cost of goods manufactured (d) Cost of goods soldStep by Step Solution
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