Question: you can keep the raw materials purchases at 0 or put in the missing number of $895000 XYZ Industries has the following operating expenditures for


XYZ Industries has the following operating expenditures for the year ended December 31, 2020. Direct labour Indirect labour Manufacturing rent 750000 102000 311000 It also has the following balance information: Raw materials Work in process Finished goods Beginning of year 87000 56000 210000 End of year 135000 38000 246000 Complete the schedule of cost of goods manufactured: Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials Raw materials of raw materials Raw materials available for use Deduct: Raw materials inventory, ending Raw materials used in production Direct Labour Manufacturing overhead Indirect labour Manufacturing building rent Total manufacturing overhead Total production expenses Opening work in process Less: Closing work manufacturing overhead Total production expenses I Opening work in process Less: Closing work in process Total cost of finished goods in year Opening finished goods Less: Finished goods 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
