The following balances are from the accounts of Santa Maria Parts: Direct materials purchased during the quarter

Question:

The following balances are from the accounts of Santa Maria Parts:

Direct materials purchased during the quarter amount to $480,000, and the cost of goods sold for the quarter was $1,740,000.

Required

Reconstruct a cost of goods sold statement and fill in the following missing data.

a. Cost of direct materials used during the quarter.

b. Cost of goods manufactured during the quarter.

c. Total manufacturing costs incurred during the quarter.

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Fundamentals Of Cost Accounting

ISBN: 9781264100842

7th Edition

Authors: William Lanen

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Question Posted: Aug 10, 2022 05:04 AM

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The following balances are from the accounts of Santa Maria Parts: Direct materials purchased during the quarter

Question:

Direct materials inventory.. Work-in-process inventory... Finished goods inventory...... July 1 (Beginning) $76,800 69,600 78,000 September 30 (Ending) $94,400 37,200 72,000

Step by Step Answer:

Santa Maria Parts Cost of Goods Sold Statement For the Quarter Ended September 30 The best approach ...View the full answer

Fundamentals Of Cost Accounting

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