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Question 5 Using $3266000 as the cost of goods manufactured, compute the cost of goods sold using the following information. Raw materials inventory, January 1
Question 5
Using $3266000 as the cost of goods manufactured, compute the cost of goods sold using the following information.
| Raw materials inventory, January 1 | $ 20000 |
| Raw materials inventory, December 31 | 40000 |
| Work in process, January 1 | 18000 |
| Work in process, December 31 | 12000 |
| Finished goods, January 1 | 40000 |
| Finished goods, December 31 | 32000 |
| Raw materials purchases | 1920000 |
| Direct labor | 760000 |
| Factory utilities | 150000 |
| Indirect labor | 50000 |
| Factory depreciation | 400000 |
| Operating expenses | 420000 |
answers:
|
| $3234000. |
|
| $3258000. |
|
| $3272000. |
|
| $3274000. |
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
11th Edition
1264229739, 9781264229734
