Connecticut Manufacturing began operations on January 1. During its first year of operations, Connecticut worked five industrial
Question:
Connecticut Manufacturing began operations on January 1. During its first year of operations, Connecticut worked five industrial jobs and reported the following information at the end of the year:
Work 1 | job 2 | job 3 | job 4 | job 5 | |
Direct materials | 2300 | 7.900 | 4,000 | 3500 | 1500 |
Direct labour | 14.000 | 23.000 | 13,000 | 12,000 | 800 |
Allocated Manufacturing Overhead | 1600 | 6500 | 2500 | 7500 | 200 |
Completed work: | June 30th | September 1st | October 15th | November 1st | Unfilled |
work sold: | July 10th | September 12 | Unsold | Unsold | N/A |
Income: | 47.000 | 41.000 | N/A | N/A | N/A |
Connecticut's overhead cost allocation left a debit balance of $1,400 in the manufacturing overhead account, which was zeroed out at the end of the year.
What was the ending balance in Cost of Goods Sold for the year ending December 31?
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds