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14. The accounting records of Bronco Company revealed the following information: Raw materials used $ 60,000 Direct labor 125,000 Manufacturing overhead Work-in-process inventory, 1/1 Finished-goods inventory, 1/1 Work-in-process inventory, 12/31 Finished-goods inventory, 12/31 360,000 50,000 189,000 76,000 140,000 Bronco's cost of goods sold is: A. $519,000. B. $522,000. C. $568,000. D. $571,000. E. some other amount.

14. The accounting records of Bronco Company revealed the following information: Raw materials used $ 60,000 Direct labor 125,000 Manufacturing overhead Work-in-process inventory, 1/1 Finished-goods inventory, 1/1 Work-in-process inventory, 12/31 Finished-goods inventory, 12/31 360,000 50,000 189,000 76,000 140,000 Bronco's cost of goods sold is: A. $519,000. B. $522,000. C. $568,000. D. $571,000. E. some other amount.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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14. The accounting records of Bronco Company revealed the following information: Raw materials used $ 60,000 Direct labor 125,000 Manufacturing overhead Work-in-process inventory, 1/1 Finished-goods inventory, 1/1 Work-in-process inventory, 12/31 Finished-goods inventory, 12/31 360,000 50,000 189,000 76,000 140,000 Bronco's cost of goods sold is: A. $519,000. B. $522,000. C. $568,000. D. $571,000. E. some other amount.
Transcribed Image Text:14. The accounting records of Bronco Company revealed the following information: Raw materials used $ 60,000 Direct labor 125,000 Manufacturing overhead Work-in-process inventory, 1/1 Finished-goods inventory, 1/1 Work-in-process inventory, 12/31 Finished-goods inventory, 12/31 360,000 50,000 189,000 76,000 140,000 Bronco's cost of goods sold is: A. $519,000. B. $522,000. C. $568,000. D. $571,000. E. some other amount.
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