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a. For June, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.

a. For June, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Cost of Goods Sold, Cost of Goods Manufactured Woodfall Company has the following information for June: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, June 1 Work in process inventory, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 a. For June, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Woodfall Company Statement of Cost of Goods Manufactured Costs Type Total manufacturing costs incurred in June Total manufacturing costs Cost of goods manufactured Costs Type Cost of goods sold $260,000 340,000 182,300 70,200 74,000 33,300 44,100 Amount Amount b. For June, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Woodfall Company Statement of Cost of Goods Sold Amount 1000
Transcribed Image Text:Cost of Goods Sold, Cost of Goods Manufactured Woodfall Company has the following information for June: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, June 1 Work in process inventory, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 a. For June, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Woodfall Company Statement of Cost of Goods Manufactured Costs Type Total manufacturing costs incurred in June Total manufacturing costs Cost of goods manufactured Costs Type Cost of goods sold $260,000 340,000 182,300 70,200 74,000 33,300 44,100 Amount Amount b. For June, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Woodfall Company Statement of Cost of Goods Sold Amount 1000
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