Question: Incomplete manufacturing cost data for Ikerd Company for 2016 are presented situations: Instructions a. Indicate the missing amount for each letter. b. Prepare a condensed
Incomplete manufacturing cost data for Ikerd Company for 2016 are presented situations:
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Instructions
a. Indicate the missing amount for each letter.
b. Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2016
Total Materials Labour Manufacturing Manufacturing Process Process Cost of Goods Costs Direct Work in Work in Used Used Overhead 123,000 75,000 (1/1) (2/31) Manufactured 1. $127,000 $140,000 89,000 2. (c) 3. 80,000 100,000 4. 67,000 (g) S360,000 470,000 S33,000 $40,000 80,000 200,000 $430,000 257,000 308,000 60,000 45,000 270,000
Step by Step Solution
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a a 127000 140000 89000 356000 b 356000 33000 360000 29000 c ... View full answer
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