Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
The following information is given from The Gathering Sound, Inc. for the month of August, 2020: Beginning raw materials inventory $21,600 Ending raw materials inventory
The following information is given from The Gathering Sound, Inc. for the month of August, 2020:
Beginning raw materials inventory
$21,600
Ending raw materials inventory
$18,600
Beginning work in process inventory
$35,000
Ending work in process inventory
$37,450
Beginning finished goods inventory
$29,340
Ending finished goods inventory
$28,995
Raw material purchases
$88,210
Direct materials used
$89,300
Direct labor used
$51,730
Total factory overhead applied
$62,076
Calculate the Cost of Goods Sold.
a.$203,106
b.$203,656
c.$201,001
d.$200,311
e.$200,656
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started