Question
SkyIndustries Ltd. provided the following data: Item Amount Direct Materials $50,000 Direct Labor $40,000 Factory Overhead $30,000 Work in Progress (Beginning) $10,000 Work in Progress
SkyIndustries Ltd. provided the following data:
Item | Amount |
Direct Materials | $50,000 |
Direct Labor | $40,000 |
Factory Overhead | $30,000 |
Work in Progress (Beginning) | $10,000 |
Work in Progress (Ending) | $15,000 |
Finished Goods (Beginning) | $15,000 |
Finished Goods (Ending) | $20,000 |
Requirement: Calculate the total manufacturing cost and the cost of goods manufactured for SkyIndustries Ltd. Prepare the cost of goods sold statement and calculate the gross margin if sales were $480,000.
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
