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Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: Raw materials used $ 300,000 Total manufacturing costs charged to production
Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: Raw materials used $ 300,000 Total manufacturing costs charged to production during the year(includes raw materials, direct labor, and manufacturing overheadapplied at a rate of 60 percent of direct labor costs) $ 700,000 Cost of goods available for sale $ 772,500 Selling and general expenses $ 30,000 Inventories Beginning Ending Raw materials $ 35,000 $ 40,000 Work-in-process $ 42,500 $ 15,000 Finished goods $ 45,000 $ 55,000 Determine each of the following:
| Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: | |||||
| Raw materials used | $ 300,000 | ||||
| Total manufacturing costs charged to production during the year(includes raw materials, direct labor, and manufacturing overheadapplied at a rate of 60 percent of direct labor costs) | $ 700,000 | ||||
| Cost of goods available for sale | $ 772,500 | ||||
| Selling and general expenses | $ 30,000 | ||||
| Inventories | |||||
| Beginning | Ending | ||||
| Raw materials | $ 35,000 | $ 40,000 | |||
| Work-in-process | $ 42,500 | $ 15,000 | |||
| Finished goods | $ 45,000 | $ 55,000 | |||
| Determine each of the following: | |||||
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
