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Urgent need help ...please read the below Case and answer the required questions : Cornelius Company produces women's clothing. During the year, the company incurre
Urgent need help ...please read the below Case and answer the required questions :
Cornelius Company produces women's clothing. During the year, the company incurre Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor $ 410,000 360,000 46,000 605,000 83,000 72,000 Inventories for the year were as follows: Materials Work-in-Process Finished Goods January 1 $ 35,000 50,000 155,000 December 31 $ 55,000 44,000 86,000 Required: 1&2. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Cornelius Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Materials available Materials used Factory overhead Total factory overhead Total manufacturing costs Total manufacturing costs to account for Cost of goods sold Cost of goods available for sale Cost of goods soldStep by Step Solution
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