The following information is from ABC Companys general ledger: Beginning and ending inventories, respectively, for raw materials
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Question:
The following information is from ABC Company’s general ledger: Beginning and ending inventories, respectively, for raw materials were $9,500 and $11,500 and for work in process were $21,500 and $23,500. Raw material purchases and direct labor costs incurred were $37,500 each, and manufacturing overhead applied amounted to $21,500.
Required:
Prepare a statement of cost of goods manufactured for ABC Company. (Amounts to be deducted should be indicated by a minus sign.)
ABC COMPANY | ||
Statement of Cost of Goods Manufactured | ||
Raw materials: | ||
Raw materials available for use | 0 | |
Cost of raw materials used | $0 | |
Total manufacturing costs | 0 | |
Cost of goods manufactured | $0 |
Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
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