Atlas Industries had a beginning finished goods inventory of $34,200 and an ending finished goods inventory of $37,800 during FY 2024. Beginning work-in-process was $22,500 and ending work-in-process was $19,700. Factory overhead was $45,300. The total manufacturing costs amounted to $425,000. Use this information to determine the FY 2024 Cost of Goods Sold.

Atlas Industries had a beginning finished goods inventory of $34,200 and an ending finished goods inventory of $37,800 during FY 2024. Beginning work-in-process was $22,500 and ending work-in-process was $19,700. Factory overhead was $45,300. The total manufacturing costs amounted to $425,000. Use this information to determine the FY 2024 Cost of Goods Sold.

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 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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