14. Theriot, Inc. sells goods for $220,000 realizing a net income of $45,000 during the year...
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14. Theriot, Inc. sells goods for $220,000 realizing a net income of $45,000 during the year ending December 31, 2019. Theriot manufactured the goods that it sold in 2019 incurring the following costs: Direct Materials cost, $92,000; Direct Labor cost, $45,000; and Factory Overhead cost $32,000. a) Calculate Theriot's gross profit for the year ended December 31, 2019. b) Calculate Theriot's total period costs for the year ended December 31, 2019. 14. Theriot, Inc. sells goods for $220,000 realizing a net income of $45,000 during the year ending December 31, 2019. Theriot manufactured the goods that it sold in 2019 incurring the following costs: Direct Materials cost, $92,000; Direct Labor cost, $45,000; and Factory Overhead cost $32,000. a) Calculate Theriot's gross profit for the year ended December 31, 2019. b) Calculate Theriot's total period costs for the year ended December 31, 2019.
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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