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please help please see other question posted youre 100% correct im sorry Inventory balances at the beginning and end of the year were as follows:
please help
please see other question posted
youre 100% correct im sorry
Inventory balances at the beginning and end of the year were as follows: Haw materials Work in process Finished goods Beginning Ending $ 40,000 $ 10,000 2 $ 35,000 $ 50,000 2 The total manufacturing costs added to production for the year were $683,000; the cost of goods available for sale totaled $740,000; the unadjusted cost of goods sold totaled $660,000; and the net operating income was $30,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint. Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Adjusted cost of goods sold Superior Company Schedule of Cost Goods Manufactured Direct materials: Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Step by Step Solution
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