The Duerr Company manufactures a single product. All raw material used are traceable to specific units of
Question:
The Duerr Company manufactures a single product. All raw material used are traceable to specific units of product. Current information for the Duerr Company following.
Beginning raw materials inventory . . . . . . . . . . . . . . . . . . . . . . . . . . $14,000
Ending raw materials inventory. . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 17,000
Raw material purchases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91,000
Beginning work in process inventory. . . . . . . . . . . . . . . . . . . . . . . . . . 26,000
Ending work in process inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,000
Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116,000
Total factory overhead. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .91,000
Beginning finished goods inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . 66,000
Ending finished goods inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000
The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:
| Cost of Materials Used | Cost of Goods Manufactured | Cost of Goods Sold |
A. | $91,000 | $285,000 | $265,000 |
B | $94,000 | $285,000 | $305,000 |
C | $88,000 | $305,000 | $265,000 |
D. | $99,000 | $285,000 | $305,000 |
E. | $94,000 | $305,000 | $285,000 |
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones