Crunchem Cereal Company incurred the following actual costs during 20x4. direct material used ps 280.000 Direct labour
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Question:
Crunchem Cereal Company incurred the following actual costs during 20x4.
direct material used | ps | 280.000 |
Direct labour | 140.000 | |
Manufacturing overhead | 294.000 | |
The company's default overhead rate is 210 percent of direct labor cost. Inventory balances as of January 1 were as follows: |
Raw material | ps | 31,000 |
Work in progress | 39,000 | |
Finished products | 44.000 | |
Each of these inventory balances was 10 percent higher at the end of the year.
1. Prepare a cost of manufactured goods table for the 20x4.
2.
What was the cost of goods sold during the year? |
Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078025662
10th edition
Authors: Ronald Hilton, David Platt
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