Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Preparing a Cost of Goods Manufactured Statement. answers the following questions September 30 Materials Inventory was $129,800 September 1 Work-in-Process Inventory was $81,200 September 30
Preparing a Cost of Goods Manufactured Statement. answers the following questions September 30 Materials Inventory was $129,800 September 1 Work-in-Process Inventory was $81,200 September 30 Finished Goods Inventory was $66,800
Use the following information for Exercises 2-45 and 2-46: In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $120,000. Overhead totaled $325,000 for the month. Information on inventories was as follows: Materials Work in process September 1 $120,000 81,200 70,000 September 30 $1.29,800 90,000 66,800 Finished goods Exercise 2-45 Direct Materials Used, Cost of Goods Manufactured Refer to the information for Lauren Ashley above. Required: 1. What was the cost of direct materials used in September? 2. What was the total manufacturing cost in September? 3. What was the cost of goods manufactured for SeptemberStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started