1. The following information was taken from Kay Company's accounting records for the year ended December 31, 2018: Increase in raw materials inventory ✔ Decrease in finished goods inventory Raw materials purchased Direct manufacturing labor payroll Factory overhead Freight-out There was no work in process inventory at the beginning or end of the year. Required: Kay Company's cost of good sold in 2018. $ 15,000 35,000 430,000 200,000 300,000 45,000
1. The following information was taken from Kay Company's accounting records for the year ended December 31, 2018: Increase in raw materials inventory ✔ Decrease in finished goods inventory Raw materials purchased Direct manufacturing labor payroll Factory overhead Freight-out There was no work in process inventory at the beginning or end of the year. Required: Kay Company's cost of good sold in 2018. $ 15,000 35,000 430,000 200,000 300,000 45,000
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:1. The following information was taken from Kay Company's accounting records for
the year ended December 31, 2018:
Increase in raw materials inventory ✔
Decrease in finished goods inventory
Raw materials purchased
Direct manufacturing labor payroll
Factory overhead
Freight-out
There was no work in process inventory at the beginning or end of the year.
Required:
Kay Company's cost of good sold in 2018.
$ 15,000
35,000
430,000
200,000
300,000
45,000
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