Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing...

 

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Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $290,000 120,000 252,000 Exercise 3-30 Part 2 Each of these inventory balances was 10 percent higher at the end of the year. $30,000 38,000 43,000 Cost of goods sold 2. What was the cost of goods sold for the year? Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $290,000 120,000 252,000 Exercise 3-30 Part 2 Each of these inventory balances was 10 percent higher at the end of the year. $30,000 38,000 43,000 Cost of goods sold 2. What was the cost of goods sold for the year?

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Calculation of Cost of good sold Description Amount Direct Material 290000 ... View the full answer