Question
The following information is available for Elliot Company. January 1, 2016 Raw materials inventory $26,000 Work in process inventory 18,500 Finished goods inventory 30,000 2016
The following information is available for Elliot Company.
January 1, 2016
Raw materials inventory $26,000
Work in process inventory 18,500
Finished goods inventory 30,000
2016
Materials purchased $170,000
Direct labor 230,000
Manufacturing overhead 180,000
Sales 800,000
December 31, 2016
Raw materials inventory $30,000
Work in process inventory 22,200
Finished goods inventory 21,000
What is the cost of goods manufactured?
How do you find the income statement through gross profit?
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Business Communication Essentials
Authors: Courtland Bovee
4th Canadian Edition
0133508706, 978-0133508703
