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Oriole Company recorded the following transactions for the month of February: Sales were $420,000 for the month. Sales prices are determined by a markup
Oriole Company recorded the following transactions for the month of February: Sales were $420,000 for the month. Sales prices are determined by a markup on manufacturing cost of 40%. The costs of new inputs to the manufacturing process during the month were $286,500. (a) Calculate the missing values in the schedule below. Purchases Beginning Inventory Ending Inventory Direct Materials Used Direct Labour Manufacturing Overhead (including indirect materials of $9,100) Transferred to Finished Goods Cost of Goods Sold Materials Work in Process Finished Goc $100,800 17,800 $8,500 (a) 18,300 90,800 (b) 115,900 (c)
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