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Manufacturing #3 Chen Corporation had the following information available for 2020: Raw Materials Work in Process Finished Goods Beginning Balance $28,000 74.000 49,000 Ending Balance
Manufacturing #3 Chen Corporation had the following information available for 2020: Raw Materials Work in Process Finished Goods Beginning Balance $28,000 74.000 49,000 Ending Balance $24,000 86,000 41,000 Additional Information for 2020: Advertising Expenses Direct Labor Factory Depreciation Factory Insurance Factory Property Taxes Factory Repairs Factory Utilities Indirect Materials Used Marketing Manager's Salary Office Utilities Expense Raw Material Purchases Sales Revenue Total Factory Labor Charges $ 120,000 340,000 42,000 18,000 12,000 56,000 35,000 24,000 180.000 23,000 180,000 1,620.000 400,000 REQUIRED: A. Compute the direct material costs for the year. B. Compute the indirect labor costs for the year. C. Compute the total factory overhead costs for the year. D. Compute the cost of goods manufactured for the year. E. Compute the cost of goods sold for the year. F. Compute the gross profit for the year
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