Princeton 3 Company has the following information for May: Cost of direct materials used in production...
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Princeton 3 Company has the following information for May: Cost of direct materials used in production $42,000 Direct labor 54,000 Factory overhead 26,000 Work in process inventory, May 1 32,000 Work in process inventory, May 31 32,340 Finished goods inventory, May 1 31,000 Finished goods inventory, May 31 21,000 a. For May, using the data given, prepare a statement of Cost of Goods Manufactured. b. For May, using the data given, prepare a statement of Cost of Goods Sold. Princeton 3 Company has the following information for May: Cost of direct materials used in production $42,000 Direct labor 54,000 Factory overhead 26,000 Work in process inventory, May 1 32,000 Work in process inventory, May 31 32,340 Finished goods inventory, May 1 31,000 Finished goods inventory, May 31 21,000 a. For May, using the data given, prepare a statement of Cost of Goods Manufactured. b. For May, using the data given, prepare a statement of Cost of Goods Sold.
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a Prepare the statement of cost of goods manufactured as follows Princ... View the full answer
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