Gabriel's Guacamole manufactures guacamole in one-litre tubs for the restaurant industry. The following information relates to Gabriel's

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Gabriel's Guacamole manufactures guacamole in one-litre tubs for the restaurant industry. The following information relates to Gabriel's manufacturing operations for the month of May.

During May, Gabriel's also incurred the following costs:

Calculate the cost of goods manufactured and the cost of goods sold for Gabriel's Guacamole for the end of May.

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Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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Question Posted: Aug 16, 2017 10:26 AM

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Gabriel's Guacamole manufactures guacamole in one-litre tubs for the restaurant industry. The following information relates to Gabriel's

Question:

Inventory Account May 1 Balance May 31 Balance Raw materias S25,000 45,000 Work in process S52,000 Finished goods S32,000 $15,000 S58,000 Raw materials purchases Direct labour (rate of $10/hour Manufacturing overhead per labour hour S7.50 $68,000 $98,000

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Financial and Managerial Accounting the basis for business decisions

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