Question: Saved Help Save & Exit Submit 2. Benson Manufacturing Company began operations on January 1. During the year, it started and completed 1,660 units of
Saved Help Save & Exit Submit 2. Benson Manufacturing Company began operations on January 1. During the year, it started and completed 1,660 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,140, 2. Wages of production workers--$3,510, 3. Salaries of administrative and sales personnel - $1,985. 4. Depreciation on manufacturing equipment-$5,634, 5. Depreciation on administrative equipment-$1750. Benson sold 1,160 units of product Required a. Determine the total product cost for the year. b. Determine the total cost of the ending inventory. (Do not round Intermediate calculations.) c. Determine the total of cost of goods sold. (Do not round Intermediate calculations.) 12,284 a Total product cost b. Total cost of ending Inventory c. Total cost of goods sold
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
