Prepare a cost of goods sold budget for Kenwood Manufacturing Inc. for the year ended December 31, 2013, from the following estimates. Inventories of production units: Direct materials purchased during the year, $854,000; beginning inventory of direct materials, $31,000; and

Prepare a cost of goods sold budget for Kenwood Manufacturing Inc. for the year ended December 31, 2013, from the following estimates. Inventories of production units:

Prepare a cost of goods sold budget for Kenwood Manufacturing

Direct materials purchased during the year, $854,000; beginning inventory of direct materials, $31,000; and ending inventory of direct materials, $26,000. Totals from other budgets included:
Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $539,500
Total factory overhead costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .818,000

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...

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Related Book For  answer-question

Principles of Cost Accounting

ISBN: 978-1133187868

16th edition

Authors: Edward J. Vanderbeck

Posted Date: May 05, 2014 11:09:38