Cost of goods manufactured equals $44,000 for 2011. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Total manufacturing overhead is $4,500. Beginning and ending work in process for 2011 are $4,000 and $5,000 respectively. How much is the cost of goods sold for the year? A. $47,500 B. $40,500 C. $45,000 D. More information is needed.

Cost of goods manufactured equals $44,000 for 2011. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Total manufacturing overhead is $4,500. Beginning and ending work in process for 2011 are $4,000 and $5,000 respectively. How much is the cost of goods sold for the year? A. $47,500 B. $40,500 C. $45,000 D. More information is needed.

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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