Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how do I calculate these numbers on the right? vork: Chapter 2 Homework-- Required f2 pts 4 of 6 (4 completo) HW Score: 53.36%, (similar

how do I calculate these numbers on the right? image text in transcribed
image text in transcribed
vork: Chapter 2 Homework-- Required f2 pts 4 of 6 (4 completo) HW Score: 53.36%, (similar to) Questic ost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amounts described nex nventory contains only direct materials. on to view the data. Data Table End of Year Raw materials inventory. Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Beginning End of of Year Year $ 24,000 $ 30,000 Insurance on plant. 37,000 $ 35,000 Depreciation-plant building and equipment 19,000 $ 21,000 Repairs and maintenance-plant $ 75.000 Marketing expenses $ 88,000 General and administrative expenses $ 46.000 $ 10,500 $ 13,300 $ 4,300 $ 81,000 $ 27,500 Indirect labor Print Done finished goods inventory ny list or enter any number in the input fields and then click Check Answer wing Clear All Check Answer 26 a tv (Click the icon to view the data.) Direct materials used $ 69,000 88,000 74,100 Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 268,100 35,000 $ 233,100 Now calculate the cost of goods sold. Strike Marine Company Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold 19000 Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All ALIG 26

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: V.K. Gopal

1st Edition

9788174467461

More Books

Students also viewed these Accounting questions