Question
The following accounts are from last years books at Sharp Manufacturing: Raw Materials Debit Credit Balance 0 (b) 156,000 (a) 169,000 13,000 Work In Process
The following accounts are from last years books at Sharp Manufacturing:
| Raw Materials | |||
|---|---|---|---|
| Debit | Credit | ||
| Balance | 0 | (b) | 156,000 |
| (a) | 169,000 | ||
| 13,000 |
| Work In Process | |||
|---|---|---|---|
| Debit | Credit | ||
| Balance | 0 | (f) | 518,000 |
| (b) | 133,000 | ||
| (c) | 170,000 | ||
| (e) | 215,000 | ||
| 0 |
| Finished Goods | |||
|---|---|---|---|
| Debit | Credit | ||
| Balance | 0 | (g) | 470,000 |
| (f) | 518,000 | ||
| 48,000 |
| Manufacturing Overhead | |||
|---|---|---|---|
| Debit | Credit | ||
| (b) | 23,000 | (e) | 215,000 |
| (c) | 27,000 | ||
| (d) | 158,000 | ||
| 7,000 |
| Cost of Goods Sold | |||
|---|---|---|---|
| Debit | Credit | ||
| (g) | 470,000 | ||
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?
Step 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
Public Sector Accounting
Authors: Rowan Jones, Maurice Pendlebury
6th Edition
0273720368, 9780273720362
