Provide correct answer this financial accounting question Atlantic Manufacturing's accounting records reflect the followinginventories:Dec. 31, 2021Raw materials inventoryWork in process inventoryDec. 31, 2022$95,000$175,000Finished goods inventory $210,000During 2022, Atlantic Manufacturing purchased $720,000 of rawmaterials, incurred direct labor costs of $285,000, and incurredmanufacturing overhead totalling $325,000.How much would Atlantic Manufacturing report as the cost of goodsmanufactured for 2022?

To calculate the Cost of Goods Manufactured (COGM), use the formula:COGM=Total Manufacturing…

Answered: Atlantic Manufacturing's accounting…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter4: Job Order Costing

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Problem 4EB: Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials...

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Ogleby Inc.'s accounting records reflect the following inventories: Dec. 31, 2018 Dec. 31, 2019 Raw materials inventory $120,000 $ 96,000 Work in process inventory 156,000 174,000 Finished goods inventory 150,000 138,000 During 2019, Ogleby purchased $980,000 of raw materials, incurred direct labor costs of $175,000, and incurred manufacturing overhead totaling $224,000. How much would Ogleby Manufacturing report as cost of goods manufactured for 2019? (hint: use T-accounts to solve) Group of answer choices $1,397,000 $1,229,000 $1,391,000 $1,385,000
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John Brown Inc.'s accounting records reflect the following inventories: Dec 31.2019 Dec 31, 2020 $80,000 $ 64,000 Raw materials inventory 104,000 116.000 Work in process inventory 92,000 100,000 Finished goods inventory During 2020, John Brown purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing overhead totaling $160,000. How much is total manufacturing costs incurred during 2020 for John Brown? a $1,864.000 b. $1,876,000 c. $1,860,000 d. $1,872,000
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Ogleby Inc.'s accounting records reflect the following inventories: 12/31/19 12/31/20 Raw materials inventory $150,000 $120,000 Work in process inventory $195,000 $217,500 Finished goods inventory $187,500 $172,500 During 2020, Ogleby purchased $1,225,000 of raw materials, incurred direct labor costs of $218,750, and incurred manufacturing overhead totaling $280,000. How much would Ogleby Manufacturing report as the cost of goods manufactured for 2020? a. $1,768,750 b. $1,746,250 c. $1,731,250 d. $1,536,250
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What is the cost of goods manufactured for 2023 ??

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