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The following information is available for Elliot Company. a) Compute cost of goods manufactured. January 1, 2013 2013 December 31, 2013 Raw materials inventory $26000
The following information is available for Elliot Company.
a) Compute cost of goods manufactured.
| January 1, 2013 | 2013 | December 31, 2013 |
Raw materials inventory | $26000 |
| $30,000 |
Work in process inventory | 13,500 |
| 22,2000 |
Finished goods inventory | 30,000 |
| 21,000 |
Materials purchased |
| $170,000 |
|
Direct labor |
| 220,000 |
|
Manufacturing overhead |
| 180,000 |
|
Sales |
| 800,000 |
|
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