hello teacher please solve questions A manufacturing company has a beginning finished goods inventoryof $13,600, raw material purchases of $17,800, cost of goodsmanufactured of $29,400, and an ending finished good inventory of$15,400. The cost of goods sold for this company is:a. $16,000b. $27,600c. $34,800d. $43,000e. $84,000

Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs…

Answered: A manufacturing company has a beginning…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6EB: What are the total costs to account for if a companys beginning inventory had $23,432 in materials...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners during the year. These recliners sell for 400 each. Phillips had 500 recliners in finished goods inventory at the beginning of the year. At the end of the year, there were 700 recliners in finished goods inventory. Phillips accounting records provide the following information: Required: 1. Prepare a statement of cost of goods manufactured. 2. Compute the average cost of producing one unit of product in the year. 3. Prepare an income statement for external users.
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
The cost of goods sold for this company ?
High Return Manufacturing company has a beginning finished goods inventory of $19,600, raw material purchases of $28,000, cost of goods manufactured of $36,500, and an ending finished goods inventory of $22,800. The cost of goods sold for this company is?
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The cost of goods sold for this company is ?
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A firm had beginning finished goods inventory of 15,000; ending finished goods inventory of 20,000; and its cost of goods sold was 80,000. The cost of goods manufactured was: a. 80,000 b. 85,000 c. 75,000 d. 65,000
The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been: a. $20,000 b. $50,000 c. $110,000 d. $150,000

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A manufacturing company has a beginning finished goods inventory of $13,600, raw material purchases of $17,800, cost of goods manufactured of $29,400, and an ending finished good inventory of $15,400. The cost of goods sold for this company is: a. $16,000 b. $27,600 c. $34,800 d. $43,000 e. $84,000