General Accounting question A manufacturing company has a beginning finished goodsinventory of $14,600, raw material purchases of $18,000,cost of goods manufactured of $35,200, and an endingfinished goods inventory of $18,700. The cost of goodssold for this company is:a. $32,500b. $47,100c. $31,100d. $27,600e. $29,300

Step 1: Define Cost of goods soldCost of goods sold is the cost of the goods that are sold to the…

Answered: A manufacturing company has a beginning…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 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.
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?
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.
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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?
The cost of goods sold for this company is ?
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A manufacturing company has an ending finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $32,500, and a beginning finished goods inventory of $17,800. The cost of goods sold for this company is:
What is the cost of goods sold for dixon manufacturing?
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