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Using $2906000 as the cost of goods manufactured, compute the cost of goods sold using the following information. Raw materials inventory, January 1 $ 20000
Using $2906000 as the cost of goods manufactured, compute the cost of goods sold using the following information.
Raw materials inventory, January 1 $ 20000 Raw materials inventory, December 31 40000 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1560000 Direct labor 760000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000 Operating expenses 420000
$2914000.
$2874000.
$2898000.
$2912000.
| Raw materials inventory, January 1 | $ 20000 |
| Raw materials inventory, December 31 | 40000 |
| Work in process, January 1 | 18000 |
| Work in process, December 31 | 12000 |
| Finished goods, January 1 | 40000 |
| Finished goods, December 31 | 32000 |
| Raw materials purchases | 1560000 |
| Direct labor | 760000 |
| Factory utilities | 150000 |
| Indirect labor | 50000 |
| Factory depreciation | 400000 |
| Operating expenses | 420000 |
| $2914000. |
| $2874000. |
| $2898000. |
| $2912000. |
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