A manufacturing organisation operates on a job costing basis (i.e. only ONE Work in Process Account)...
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A manufacturing organisation operates on a job costing basis (i.e. only ONE Work in Process Account) and has the following information about its operations in one month: Raw Materials Account: Opening Balance: $8593, Purchases $45707 and has a Closing Balance of $7214 WIP Account Information: Opening Balance WIP was $59041, DL $37876 and OHDs $23934 and the closing balance of WIP was $58802 Finished Goods Account Information: Opening Balance of FG was $51884 and the closing balance was $46720 Required: Calculate the Cost of Goods Sold this month A manufacturing organisation operates on a job costing basis (i.e. only ONE Work in Process Account) and has the following information about its operations in one month: Raw Materials Account: Opening Balance: $8593, Purchases $45707 and has a Closing Balance of $7214 WIP Account Information: Opening Balance WIP was $59041, DL $37876 and OHDs $23934 and the closing balance of WIP was $58802 Finished Goods Account Information: Opening Balance of FG was $51884 and the closing balance was $46720 Required: Calculate the Cost of Goods Sold this month
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Answer Total manufacturing costs Direct materials used Direct labor Manufacturing o... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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