The following balances are from the accounts of Hill Components: Direct materials used during the year amount
Question:
Direct materials used during the year amount to $59,800, and the cost of goods sold for the year was $68,900.
Required
Find the following by completing a cost of goods sold statement:
a. Cost of direct materials purchased during the year.
b. Cost of goods manufactured during the year.
c. Total manufacturing costs incurred during theyear.
Transcribed Image Text:
January 1 (Beginning) December 31 (Ending) $44,200 71,500 18,200 Direct materials inventory Work-in-process inventory Finished goods inventory $48,100 67,730 15,600
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0078025525
4th edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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