Question
I am working on problem set 1-4 in acc 202 and I can't figure out the cost of goods sold. I have tired the formulas
I am working on problem set 1-4 in acc 202 and I can't figure out the cost of goods sold. I have tired the formulas I know, but I am not getting the right answer. The raw data is as follows:
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:
Inventories January 1 January 31
Materials $187,500 $159,380
Work in process 125,630 106,780
Finished goods 95,630 108,380
Direct labor $337,500
Materials purchased during January 360,000
Factory overhead incurred during January:
Indirect labor 36,000
Machinery depreciation 21,750
Heat, light, and power 7,500
Supplies 6,000
Property taxes 5,250
Miscellaneous costs 9,750
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