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Kennedy Company reported the following amounts for the year 2020. Required: Prepare the Cost of Goods Manufactured Schedule for Kennedy Company. Raw materials used
Kennedy Company reported the following amounts for the year 2020. Required: Prepare the Cost of Goods Manufactured Schedule for Kennedy Company. Raw materials used $80,000 Raw Materials inventory, Jan. 1, 2020 10,000 Raw Materials inventory, Dec. 31, 2020 10,600 Direct labour used 46,000 Selling and general expenses 12,000 Work in process inventory, Jan. 1, 2020 20,000 Work in process inventory, Dec 31, 2020 Manufacturing overhead costs applied 4,000 22,000
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