A company compiled the following information for the current year. (Assume that all raw materials used were direct materials.) Raw materials inventory, January 1 Raw materials inventory, December 31 Work in process, January 1 Work in process, December 31 Finished goods, January 1 Finished goods, December 31 Raw materials purchases Direct labor Factory utilities Indirect labor Factory depreciation Operating expenses $30000 60000 27000 18000 60000 48000 1600000 890000 225000 75000 500000 630000 Assuming that total manufacturing costs are $3400000, what is the cost of goods manufactured for the period?

A company compiled the following information for the current year. (Assume that all raw materials used were direct materials.) Raw materials inventory, January 1 Raw materials inventory, December 31 Work in process, January 1 Work in process, December 31 Finished goods, January 1 Finished goods, December 31 Raw materials purchases Direct labor Factory utilities Indirect labor Factory depreciation Operating expenses $30000 60000 27000 18000 60000 48000 1600000 890000 225000 75000 500000 630000 Assuming that total manufacturing costs are $3400000, what is the cost of goods manufactured for the period?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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