Missing information in a schedule of cost of goods manufactured and sold Required Supply the missing information
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Missing information in a schedule of cost of goods manufactured and sold
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Supply the missing information on the following schedule of cost of goods manufactured and sold.
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TORBERT CORPORATION Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2011 Raw materials $ 20,000 Beginning inventory Plus: Purchases Raw materials available for use 160,000 Minus: Ending raw materials inventory Cost of direct raw materials used 145,000 120,000 Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process during the year Minus: Ending work in process inventory Cost of goods manufactured Plus: Beginning finished goods inventory Finished goods available for sale Minus: Ending finished goods inventory 375,000 393,000 (20,500) 399,000 Cost of goods sold $378,000
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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