Question
The following data are taken from the accounting records of Gregory Mfg. Co.: 2019 2018 Ending inventories: Materials $ 100,000 $80,000 Work in Process $64,000
The following data are taken from the accounting records of Gregory Mfg. Co.:
2019
2018
Ending inventories:
Materials
$ 100,000
$80,000
Work in Process
$64,000
$56,000
Finished Goods
$140,000
$170,000
Manufacturing goods:
Direct materials used
$657,000
Direct labor costs charged to production
$270,000
Manufacturing Overhead
$378,000
a)Is there a template that includes which items are included in a schedule of cost of goods manufactured for 2019 in good form?
b)The company generally prices products adding 20% to the cost of goods sold.Determine the total revenue the company would have generated in 2019.Show your calculations, don't hide them!
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