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

   

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Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor $ 285,000 150,000 315,000 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 $ 32,000 Work in process 39,000 44,000 Finished goods Each of these inventory balances was 10 percent higher at the end of the year. Direct material: Raw material used Total manufacturing costs Subtotal CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Cost of goods manufactured 2. What was the cost of goods sold for the year? Cost of goods sold Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor $ 285,000 150,000 315,000 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 $ 32,000 Work in process 39,000 44,000 Finished goods Each of these inventory balances was 10 percent higher at the end of the year. Direct material: Raw material used Total manufacturing costs Subtotal CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Cost of goods manufactured 2. What was the cost of goods sold for the year? Cost of goods sold

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Schedule of Cost of Goods Manufactured COGM Direct Materials Used Direct Material Used 285000 Direct ... View the full answer