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i need answer with explanation. only thenni will upvote The following data (in thousands of dollars) have been taken from the accounting records of Larmont
i need answer with explanation. only thenni will upvote
The following data (in thousands of dollars) have been taken from the accounting records of Larmont Corporation for the year just completed: Sales $1,000 Purchases of raw materials $100 Direct labour $240 Manufacturing overhead applied $210 Manufacturing overhead actual $215 Administrative expenses $100 Selling expenses $140 Raw materials inventory, beginning $ 20 Raw materials inventory, ending $ 80 Work-in-process inventory, beginning Work-in-process inventory, ending $ 30 Finished goods inventory, beginning $160 Finished goods inventory, ending $150 $ 50 Required: A) Prepare a schedule of cost of goods manufactured. B) Prepare a schedule of cost of goods sold in. C) Prepare an income statement Step by Step Solution
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