Answered: Materials Work in process Finished…

Materials Work in process Finished goods Required: September 1 tA $120,000 80,000 70,000 September 30 $130,000 90,000 65,000 What was the cost of goods sold for September?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...

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Question

39.

Subject : - Accounting

Cost of Goods Sold

In September, Lauren Ashley Company purchased materials costing $240,000 and incurred direct labor cost of $120,000. Overhead totaled $400,000 for the month. Information on inventories was as follows:

Materials
Work in process
Finished goods
Required:
September 1
ta
$120,000
80,000
70,000
September 30
$130,000
90,000
65,000
What was the cost of goods sold for September?

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