Calculate the cost of goods sold using the following information: Direct materials used $ 298,500 Direct labor 132,000 Total factory overhead 264,000 General and administrative expenses 85,500 Selling expenses 48,800 Work in Process inventory, beginning 118,500 Work in Process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending 125,900 232,100 238,700
Calculate the cost of goods sold using the following information: Direct materials used $ 298,500 Direct labor 132,000 Total factory overhead 264,000 General and administrative expenses 85,500 Selling expenses 48,800 Work in Process inventory, beginning 118,500 Work in Process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending 125,900 232,100 238,700
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 10P: Aero Aluminum Inc. uses a process cost system. The records for May show the following information:...
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