Paul & Paul, Incorporated is a manufacturing firm. They following selected pieces of information are from July
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Question:
Paul & Paul, Incorporated is a manufacturing firm. They following selected pieces of information are from July operations:
Average selling price per unit | $ 64 |
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Cost of goods sold | $ 2,083,200 |
Decrease in direct materials inventory | $ 1,512 |
Direct labor | $ 946,400 |
Gross margin percentage (based on sales) | 30% |
Increase in finished goods inventory | $ 57,575 |
Manufacturing overhead | $ 787,500 |
Total manufacturing costs | $ 2,143,120 |
Required:
Find the cost of goods manufactured.
Find the direct materials used.
Find the direct materials purchases.
Find the units sold.
Find the increase (decrease) in work-in-process inventory.
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