Question
Problem 3 . alculate the costs using the source data: Beginning raw materials inventory - $7 000 Purchases of materials - $100 000 Ending raw
Problem 3. alculate the costs using the source data:
Beginning raw materials inventory - $7 000
Purchases of materials - $100 000
Ending raw materials inventory - $5 000
Direct labor - $38 000
Manufacturing overhead - $21 000
Beginning work in process inventory -$ 6 000
Ending work in process inventory - $5 000
Beginning finished goods inventory - $ 4 000
Ending finished goods inventory- $5 000
Compute:
What is the cost of the materials that the Company used (in millions)?
What is the cost of goods manufactured (in millions)?
What is the cost of goods sold (in millions)?
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