The following information is available for Teal Mountain Company. Raw materials inventory Work in process inventory...
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The following information is available for Teal Mountain Company. Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue January 1, 2022 $20,400 13,500 26,550 2022 $147,000 215,600 176,400 891,800 December 31, 2022 $29,400 16,950 20,580 Compute cost of goods manufactured. (Assume that all raw materials used were direct materials) Production costs of the Finishing Department in June in Crane Company are materials $33,600, labor $82,600, and overhead $50,400. Equivalent units of production are materials 56,000 and conversion costs 53,200. Production records indicate that 50,400 units were completed and transferred out, and 5,600 units in ending work in process were 50% complete as to conversion costs and 100% complete as to materials. Prepare the "costs accounted for section of a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to 0 decimal places, e.g. 125) The following information is available for Teal Mountain Company. Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue January 1, 2022 $20,400 13,500 26,550 2022 $147,000 215,600 176,400 891,800 December 31, 2022 $29,400 16,950 20,580 Compute cost of goods manufactured. (Assume that all raw materials used were direct materials) Production costs of the Finishing Department in June in Crane Company are materials $33,600, labor $82,600, and overhead $50,400. Equivalent units of production are materials 56,000 and conversion costs 53,200. Production records indicate that 50,400 units were completed and transferred out, and 5,600 units in ending work in process were 50% complete as to conversion costs and 100% complete as to materials. Prepare the "costs accounted for section of a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to 0 decimal places, e.g. 125)
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For Teal Mountain Company Cost of goods manufactured can be calculated using the following formula Cost of goods manufactured beginning work in proces... View the full answer
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5th edition
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