Question
The following events took place at a manufacturing company for the current year: (1) Purchased $110,000 in direct materials. (2) Incurred labor costs as follows:
The following events took place at a manufacturing company for the current year: (1) Purchased $110,000 in direct materials. (2) Incurred labor costs as follows: (a) direct, $63,500 and (b) indirect, $16,600. (3) Other manufacturing overhead was $122,000, excluding indirect labor. (4) Transferred 80% of the materials to the manufacturing assembly line. (5) Completed 65% of the Work-in-Process during the year. (6) Sold 85% of the completed goods. (7) There were no beginning inventories. What is the company's Cost of Goods Sold?
$188,565.00.
$246,585.00.
$312,100.00.
$160,280.25.
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