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Assignment: 8.9 Cloudy Comfort Company's accounting records reflect the following inventories: Dec. 31, 2012 Dec. 31, 2011 Raw materials inventory $310,000 Work in process inventory 300,000 Finished goods inventory 190,000 $260,000 160,000 150,000 During 2012, $400,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. If Cloudy Comfort Company's cost of goods manufactured for 2012 amounted to $1,190,000, its cost of goods sold for the year is:

Assignment: 8.9 Cloudy Comfort Company's accounting records reflect the following inventories: Dec. 31, 2012 Dec. 31, 2011 Raw materials inventory $310,000 Work in process inventory 300,000 Finished goods inventory 190,000 $260,000 160,000 150,000 During 2012, $400,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. If Cloudy Comfort Company's cost of goods manufactured for 2012 amounted to $1,190,000, its cost of goods sold for the year is:

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...
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Assignment: 8.9 Cloudy Comfort Company's accounting records reflect the following inventories: Dec. 31, 2012 Dec. 31, 2011 Raw materials inventory $310,000 Work in process inventory 300,000 Finished goods inventory 190,000 $260,000 160,000 150,000 During 2012, $400,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. If Cloudy Comfort Company's cost of goods manufactured for 2012 amounted to $1,190,000, its cost of goods sold for the year is:
Transcribed Image Text:Assignment: 8.9 Cloudy Comfort Company's accounting records reflect the following inventories: Dec. 31, 2012 Dec. 31, 2011 Raw materials inventory $310,000 Work in process inventory 300,000 Finished goods inventory 190,000 $260,000 160,000 150,000 During 2012, $400,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. If Cloudy Comfort Company's cost of goods manufactured for 2012 amounted to $1,190,000, its cost of goods sold for the year is:
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