Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please put correct answer in the underlined space provided. The following information has been extracted from the records of ABC Company $ $ $ $

image text in transcribed
image text in transcribed
Please put correct answer in the underlined space provided. The following information has been extracted from the records of ABC Company $ $ $ $ $ $ Finished goods, January 1, 2019 Direct materials, January 1, 2019 Finished goods, December 31, 2019 Work-in-process, January 1, 2019 Direct materials, December 31, 2019 Work-in-process, December 31, 2019 Marketing and customer services costs Direct materials purchased Direct manufacturing labor Indirect manufacturing labor Amortization - Plant, property & equipment Plant Utilities Plant Supplies 80,000 60,000 24,000 20,000 10,000 4,000 80,000 160,000 80,000 40,000 18,000 10,000 34,000 $ $ $ $ $ $ Required: a) Compute the Direct Materials used (3 Marks) non nos BC (5 Marks) b) Compute cost of goods manufactured if Direct Materials used is: $ 250,000 (2 Marks) c) Compute the Cost of Goods Sold if Cost of Goods manufactured is $ 500,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Data Analytics Using Microsoft Excel With Accounting And Finance Datasets Version 2.0

Authors: Joseph M. Manzo

1st Edition

1453395210, 9781453395219

More Books

Students also viewed these Accounting questions

Question

Describe the linkages between HRM and strategy formulation. page 80

Answered: 1 week ago