a) The following data are provided by the MX Company: Cash Accounts receivable Materials purchased Sales...

 

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a) The following data are provided by the MX Company: Cash Accounts receivable Materials purchased Sales discount Factory overhead (excluding depreciation) Marketing and administrative expenses (excluding depreciation) Depreciation (90% manufacturing, 10% marketing and Administrative expenses) Sales Direct labor Freight on materials purchased Rental income Interest on bonds payable Inventories: Finished goods WIP Materials January 1 Tk.44200 29800 88000 Requirement: Prepare a cost of goods sold statement. December 31 Tk.66000 38800 64000 Tk.240000 348000 366000 8000 468400 344200 116000 1844000 523600 6600 64000 16000 a) The following data are provided by the MX Company: Cash Accounts receivable Materials purchased Sales discount Factory overhead (excluding depreciation) Marketing and administrative expenses (excluding depreciation) Depreciation (90% manufacturing, 10% marketing and Administrative expenses) Sales Direct labor Freight on materials purchased Rental income Interest on bonds payable Inventories: Finished goods WIP Materials January 1 Tk.44200 29800 88000 Requirement: Prepare a cost of goods sold statement. December 31 Tk.66000 38800 64000 Tk.240000 348000 366000 8000 468400 344200 116000 1844000 523600 6600 64000 16000

Answer rating: 100% (QA)

The cost of goods sold statement can be prepared as follows Sales Sales discount Net sales Cost of g... View the full answer