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Danica Corp. provided the following inventory balances and cost data for the month of June. Junel June 30 Direct Materials 30,000 40,000 Work in Process 15,000 20,000 Finished Goods 65,000 50,000 Production data for the month of June follows: Cost of goods manufactured Factory overhead applied 515,000 150,000 Direct materials used 190,900 Actual factory overhead 144,000 Required: Compute the cost of goods sold under actual costing

Danica Corp. provided the following inventory balances and cost data for the month of June. Junel June 30 Direct Materials 30,000 40,000 Work in Process 15,000 20,000 Finished Goods 65,000 50,000 Production data for the month of June follows: Cost of goods manufactured Factory overhead applied 515,000 150,000 Direct materials used 190,900 Actual factory overhead 144,000 Required: Compute the cost of goods sold under actual costing

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Danica Corp. provided the following inventory balances and cost data for the month of June. Junel June 30 Direct Materials 30,000 40,000 Work in Process 15,000 20,000 Finished Goods 65,000 50,000 Production data for the month of June follows: 515,000 Cost of goods manufactured Factory overhead applied 150,000 Direct materials used 190,900 Actual factory overhead 144,000 Required: Compute the cost of goods sold under actual costing
Transcribed Image Text:Danica Corp. provided the following inventory balances and cost data for the month of June. Junel June 30 Direct Materials 30,000 40,000 Work in Process 15,000 20,000 Finished Goods 65,000 50,000 Production data for the month of June follows: 515,000 Cost of goods manufactured Factory overhead applied 150,000 Direct materials used 190,900 Actual factory overhead 144,000 Required: Compute the cost of goods sold under actual costing
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