Question
The following is known about the company's operations for the accounting period: Direct materials: Stock at the beginning of the season: 19755 Material purchases: 38515
The following is known about the company's operations for the accounting period:
Direct materials: Stock at the beginning of the season: 19755 Material purchases: 38515 Stock at the end of the season 8250 Direct labor costs: 18455 Manufacturing overhead: 11655 WIP production at the beginning of the season: 1255 WIP production at the end of the period: 4755 Stock of finished products at the beginning of the season: 25050 Stock of finished products at the end of the season: 19850
Calculate: 1. Value of material use in the period: 2. Costs of finished production in the period: 3. Cost of sold production in the period
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