A manufacturer runs costing on a job costing basis (i.e. only ONE Work in Process -...

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A manufacturer runs costing on a job costing basis (i.e. only ONE Work in Process - WIP Account and all costs are traceable) The company has recorded the following for a single month of production: Raw Materials - Opening Balance: $15806, Purchases $62561 and has a Closing Balance of $16571 WIP Information: Conversion costs incurred this period include: Opening balance of WIP was $40464, DL $20824 and OHDs $37753 and the closing balance of WIP was $28801 Finished Goods information: Opening Balance of FG was $59373 and the closing balance was $55662 4 Required: Trace all costs through the three inventory accounts (RM> WIP > FG > COGS) to calculate the Cost of Goods Sold this month A manufacturer runs costing on a job costing basis (i.e. only ONE Work in Process - WIP Account and all costs are traceable) The company has recorded the following for a single month of production: Raw Materials - Opening Balance: $15806, Purchases $62561 and has a Closing Balance of $16571 WIP Information: Conversion costs incurred this period include: Opening balance of WIP was $40464, DL $20824 and OHDs $37753 and the closing balance of WIP was $28801 Finished Goods information: Opening Balance of FG was $59373 and the closing balance was $55662 4 Required: Trace all costs through the three inventory accounts (RM> WIP > FG > COGS) to calculate the Cost of Goods Sold this month

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Schedule of Cost of goods Manufactured Raw Materials Inventor... View the full answer