The following selected information is provided about a manufacturing company: 800,000 415,000 730,000 745,000 500,000 185,000...

 

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The following selected information is provided about a manufacturing company: 800,000 415,000 730,000 745,000 500,000 185,000 5,000,000 Raw material purchases Direct labor Overhead applied Actual overhead Selling and administrative salaries Other selling and administrative expenses Sales revenue Inventory data: Raw material Work in process Finished goods January 1 75,000 105,000 120,000 December 31 100,000 140,000 125,000 Calculate the cost of goods sold. Assume that under/over applied overhead is closed directly to cost of goods sold. The following selected information is provided about a manufacturing company: 800,000 415,000 730,000 745,000 500,000 185,000 5,000,000 Raw material purchases Direct labor Overhead applied Actual overhead Selling and administrative salaries Other selling and administrative expenses Sales revenue Inventory data: Raw material Work in process Finished goods January 1 75,000 105,000 120,000 December 31 100,000 140,000 125,000 Calculate the cost of goods sold. Assume that under/over applied overhead is closed directly to cost of goods sold.

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To calculate the cost of goods sold COGS we need to consider the following components Beginning inve... View the full answer