Question
X Company had the following inventory account balances in 2017: Account January 1 December 31 Materials $14,182 $14,146 Work in Process 16,816 15,510 Finished Goods
X Company had the following inventory account balances in 2017:
| Account | January 1 | December 31 |
| Materials | $14,182 | $14,146 |
| Work in Process | 16,816 | 15,510 |
| Finished Goods | 15,900 | 15,900 |
The following additional information for the year is available:
| Direct materials purchased | $68,355 | |
| Direct labor | 20,882 | |
| Overhead | 49,128 | |
What was Cost of Goods Sold in 2017?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Introduction To Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
2nd Canadian Edition
0070964777, 9780070964778
