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The following information was taken from the accounting records of Morrison's Company for last year: Management wants to organize these data into a better format
The following information was taken from the accounting records of Morrison's Company for last year: Management wants to organize these data into a better format so that financial statements can be prepared for the year. 1. Prepare a schedule of cost of goods manufactured. 2. Compute the cost of goods sold. 3. Using data as needed from (1) and (2) above, prepare an income statement. 4. Assuming production of finished and semi-finished goods amounted to 520,500 units for the past year, calculate the cost components of the ending finished good inventory of 60,818 units. When calculating Direct Material, Direct Labor \& Manufacturing Overhead per unit please round to two decimal places
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