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this question was answered by you giys and its wrong Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $150,000 and incurred
this question was answered by you giys and its wrong
Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $150,000 and incurred direct labor cost of $150,000. Overhead totaled $350,000 for the month. Information on inventories was as follows: September 30 September 1 $120,000 80,000 Materials Work in process Finished goods $130,000 90,000 70,000 65,000 Required: What was the cost of goods sold for September? 655,000 x Feedback Check My Work 1. Direct materials used = Beginning materials + Purchases - Ending materials. 2. Total manufacturing cost Direct materials used + Direct labor + Overhead 3. The cost of goods manufactured - Beginning WIP + Total manufacturing cost - Ending WIP. 4. The cost of goods sold - Beginning Finished goods + Total cost of goods manufactured - Ending Finished goods Step by Step Solution
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