1. Compute cost of goods manufactured. Work in process, January 1 Raw materials, January 1 Finished...

  

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1. Compute cost of goods manufactured. Work in process, January 1 Raw materials, January 1 Finished Goods, January 1 $20,000 $21,000 Work in process, December 31 Raw materials, December 31 $12,000 $7,000 $9,000 Finished Goods, December 31 $3,000 Materials used in product $12,000 Depreciation on store $1,200 Factory supplies used Office equipment repair Direct Labor $200 $11,000 $12,500 Property taxes of plant $12,000 1. Compute cost of goods manufactured. Work in process, January 1 Raw materials, January 1 Finished Goods, January 1 $20,000 $21,000 Work in process, December 31 Raw materials, December 31 $12,000 $7,000 $9,000 Finished Goods, December 31 $3,000 Materials used in product $12,000 Depreciation on store $1,200 Factory supplies used Office equipment repair Direct Labor $200 $11,000 $12,500 Property taxes of plant $12,000

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To compute the cost of goods manufactured you would use the following formula Cost of g... View the full answer