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Perez Manufacturing Company began operations on January 1. During the year, it started and completed 1,740 units of product....

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Perez Manufacturing Company began operations on January 1. During the year, it started and completed 1,740 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,150. 2. Wages of production workers-$3,520. 3. Salaries of administrative and sales personnel-$1,905. 4. Depreciation on manufacturing equipment-$4,988. 5. Depreciation on administrative equipment-$1,740. Perez sold 1,180 units of product. Required a. Determine the total product cost for the year. b. Determine the total cost of the ending inventory. Note: Do not round intermediate calculations. c. Determine the total of cost of goods sold. Note: Do not round intermediate calculations. a. Total product cost b. Total cost of ending inventory c. Total cost of goods sold

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International Accounting

International Accounting

ISBN: 978-0078110955

3rd Edition

Authors: Timothy Doupnik, Hector Perera

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Question Details
Chapter # 6
Section: Cases
Problem: 1
Posted Date: September 02, 2023 09:45:22
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