Question
The following data (in thousands of dollars) have been taken from the accounting records of Larden Corporation for the just-completed year. Sales $3250 Purchases of
The following data (in thousands of dollars) have been taken from the accounting records of Larden Corporation for the just-completed year.
Sales $3250
Purchases of raw materials 423
Direct labor 375
Manufacturing overhead 220
Administrative expenses 199
Selling expenses 175
Raw materials inventory, beginning 110
Raw materials inventory, ending 112
Work-in-process inventory, beginning 95
Work-in-process inventory, ending 89
Finished goods inventory, beginning 62
Finished goods inventory, ending 47
Required: Prepare a Schedule of Cost of Goods Manufactured statement and the cost of goods sold computation.
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