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Thompson Inc. has the following selected information available for 2011: Cost of goods manufactured $220,000 Cost of goods sold 150,000 Direct labor costs incurred 65,000
Thompson Inc. has the following selected information available for 2011:
Cost of goods manufactured | $220,000 |
Cost of goods sold | 150,000 |
Direct labor costs incurred | 65,000 |
Raw material purchased | 90,000 |
Raw material used | 100,000 |
Beginning work in process | 23,000 |
Ending work in process | 11,000 |
Manufacturing overhead costs in 2011 amounted to:
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