Beginning Ending Raw materials inventory $12,000 $ 8,000 Work-in-process inventory 45,000 55,000 Finished goods inventory 9,000 11,000 Raw materials purchased $45,000 Direct labor costs 80,000 Overhead costs 30,000 Selling and administrative costs 20,000 McClintock Manufacturing Inc. has the above information available for the month of July: Question: How much was the Cost of Goods Sold for July?
Beginning Ending Raw materials inventory $12,000 $ 8,000 Work-in-process inventory 45,000 55,000 Finished goods inventory 9,000 11,000 Raw materials purchased $45,000 Direct labor costs 80,000 Overhead costs 30,000 Selling and administrative costs 20,000 McClintock Manufacturing Inc. has the above information available for the month of July: Question: How much was the Cost of Goods Sold for July?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Beginning
Ending
Raw materials inventory
$12,000
$ 8,000
Work-in-process inventory
45,000
55,000
Finished goods inventory
9,000
11,000
Raw materials purchased
$45,000
Direct labor costs
80,000
30,000
Selling and administrative costs
20,000
McClintock Manufacturing Inc. has the above information available for the month of July:
Question: How much was the Cost of Goods Sold for July?
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