Assuming that the cost of goods manufactured is $3,460,000 compute the cost of goods sold using the following information Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, Jan...

Cost of goods manufactured Add ...

Assuming that the cost of goods manufactured is $3,460,000 compute the cost of goods sold using the

Fantastic news! We've Found the answer you've been seeking!

Assuming that the cost of goods manufactured is $3,460,000 compute the cost of goods sold using the following information.

Raw materials inventory, January 1	$ 30,000
Raw materials inventory, December 31	60,000
Work in process, January 1	27,000
Work in process, December 31	18,000
Finished goods, January 1	60,000
Finished goods, December 31	48,000
Raw materials purchases	1,800,000
Direct labor	890,000
Factory utilities	225,000
Indirect labor	75,000
Factory depreciation	500,000
Operating expenses	630,000