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Please provide steps if possible, will thumbs up for correct answers and help At May 31, 2022, the accounts of Sandhill Company show the following.
Please provide steps if possible, will thumbs up for correct answers and help
At May 31, 2022, the accounts of Sandhill Company show the following. 1. May 1 inventories-finished goods $15,080, work in process $17,560, and raw materials $9,760. 2. May 31 inventories-finished goods $11,400, work in process $19,120, and raw materials $8,480. 3. Debit postings to work in process were direct materials $74,920, direct labor $60,000, and manufacturing overhead applie $48,000. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $258,000. Prepare a condensed cost of goods manufactured schedule for May 2022. Prepare the balance sheet section of the manufacturing inventories at May 31, 2022Step by Step Solution
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