Inventory data for the year Cost incurred Raw material purchased 125,000 Direct
ID: 2486319 • Letter: I
Question
Inventory data for the year
Cost incurred
Raw material purchased 125,000
Direct labor 75,000
Indirect labor 40,000
Equipment maintenace 10,000
Insurance on factory 30,000
Rent on factory 12,000
Equipment depreciation 20,000
Factory supplies 11,000
Advertising expenses 15,000
Selling and administrative expenses 21,000
Calculate the cost of goods manufactured
Calculate the cost of goods sold
Explanation / Answer
the cost of goods manufactured
Raw material purchased 125,000
Direct labor 75,000
Indirect labor 40,000
Factory supplies 11,000
the cost of goods manufactured=$251,000
the cost of goods sold
Raw material purchased 125,000
Direct labor 75,000
Indirect labor 40,000
Equipment maintenace 10,000
Insurance on factory 30,000
Rent on factory 12,000
Equipment depreciation 20,000
Factory supplies 11,000
Advertising expenses 15,000
Selling and administrative expenses 21,000
the cost of goods sold=$359,000.
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