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The following data from the recently completed year are taken from the accounting records of a manufacturing company that uses job-order costing. Assume all raw
The following data from the recently completed year are taken from the accounting records of a manufacturing company that uses job-order costing. Assume all raw materials used in production were direct materials. Carefully check your answers before submitting as inputs from part 1, 2 and 3 will impact your responses for parts 4,5 and 6. Assume all raw materials used in production were direct materials. Carefully check your answers before submitting as inputs from part 1, 2 and 3 will impact your responses for parts 4,5 and 6. As part of the Schedule of Cost of Goods Manufactured, compute the following: 1. Total raw materials used in production during the year. (3 marks) 2. Total manufacturing costs for the year. (1 mark) 3. Cost of goods manufactured for the year. (2 marks) As part of the Schedule of Cost of Goods sold, compute the following: 4. Cost of goods available for sale. ( 2 marks) 5. Unadjusted cost of goods sold. (1 mark) 6. Adjusted cost of goods sold. (1 mark)
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