The following inventory data relate to Buffalo Corp.: Calculate the following for the year: a. Direct materials

Question:

The following inventory data relate to Buffalo Corp.:

Calculate the following for the year:
a. Direct materials purchased.
b. Direct labor costs incurred.
c. Cost of goods sold.
d. Gross profit.

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Principles of Cost Accounting

ISBN: 978-1133187868

16th edition

Authors: Edward J. Vanderbeck

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Question Posted: May 05, 2014 10:39 AM

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The following inventory data relate to Buffalo Corp.: Calculate the following for the year: a. Direct materials

Question:

Inventories Ending Beginning Finished goods.... $75,000 110,000 Work in process.... * . 80,000 Direct materials 70,000 90,000 Revenues and Costs for the Period: $900,000 775,000 675,000 175,000 205,000 ales....O.. Cost of goods available for sale Factory overhead Direct materials used.

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a Direct materials used during the period 205000 Add inventory of di...View the full answer

Principles of Cost Accounting

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