Sinjay Corporation incurred the following costs while manufacturing its product: Materials used in product $120,000 Depreciation...
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Sinjay Corporation incurred the following costs while manufacturing its product: Materials used in product $120,000 Depreciation on factory 60,000 Property taxes on warehouse 7,500 Labour costs of assembly-line workers 110,000 Factory supplies used 25,000 Advertising expense Property taxes on factory Delivery expense Sales commissions Salaries paid to sales clerks Work in process inventory was $10,000 at January 1 and $14,000 at December 31. Finished goods inventory was $60,000 at January 1 and $50,600 at December 31. Instructions $45,000 19,000 21,000 35,000 50,000 a. Calculate the cost of goods manufactured. b. Calculate the cost of goods sold. Determine missing amounts in cost of goods manufactured schedule. Sinjay Corporation incurred the following costs while manufacturing its product: Materials used in product $120,000 Depreciation on factory 60,000 Property taxes on warehouse 7,500 Labour costs of assembly-line workers 110,000 Factory supplies used 25,000 Advertising expense Property taxes on factory Delivery expense Sales commissions Salaries paid to sales clerks Work in process inventory was $10,000 at January 1 and $14,000 at December 31. Finished goods inventory was $60,000 at January 1 and $50,600 at December 31. Instructions $45,000 19,000 21,000 35,000 50,000 a. Calculate the cost of goods manufactured. b. Calculate the cost of goods sold. Determine missing amounts in cost of goods manufactured schedule.
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Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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