Question
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials $ 124,000
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead.
| March 1 | |||
| Inventory balances | |||
| Raw materials | $ | 124,000 | |
| Work in process | 118,100 | ||
| Finished goods | 77,900 | ||
| March 31 | |||
| Inventory balances | |||
| Raw materials | $ | 85,500 | |
| Work in process | 145,400 | ||
| Finished goods | 81,000 | ||
| During March | |||
| Costs of raw materials purchased | $ | 119,900 | |
| Costs of direct labor | 101,700 | ||
| Costs of manufacturing overhead | 62,600 | ||
| Sales revenues | 358,000 | ||
Required
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Prepare a schedule of cost of goods manufactured and sold.
-
Calculate the amount of gross margin on the income statement.
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Evaluating Web Sites For Legal Compliance Basics For Web Site Legal Auditing
Authors: Leopoldo Brandt Graterol, John Ng'ang'a Gathegi
1st Edition
0810844737, 978-0810844735
