ABC Manufacturing Company has the following information for the year: ⚫ Beginning Work in Process Inventory: $45,000 ⚫ Ending Work in Process Inventory: $30,000 • . Direct Materials Used: $125,000 ⚫ Direct Labor: $80,000 ⚫ Manufacturing Overhead: $50,000 What is the total cost of goods manufactured for the year?

ABC Manufacturing Company has the following information for the year: ⚫ Beginning Work in Process Inventory: $45,000 ⚫ Ending Work in Process Inventory: $30,000 • . Direct Materials Used: $125,000 ⚫ Direct Labor: $80,000 ⚫ Manufacturing Overhead: $50,000 What is the total cost of goods manufactured for the year?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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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.
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