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Data table Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Print Beginning $ Done 57,000 $ 103,000 47,000 Ending 25,000 67,000 50,000 Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Print Done $ 11,000 156,000 23,000 49,000 13,000 34,000 126,000 51,000

Data table Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Print Beginning $ Done 57,000 $ 103,000 47,000 Ending 25,000 67,000 50,000 Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Print Done $ 11,000 156,000 23,000 49,000 13,000 34,000 126,000 51,000

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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Clarkson corp, a lamp manufacturer provided the following information for the year ended December 31, 2024 Requirements - 1) use the information to prepare a schedule of cost of goods manufactured 2) what is the unit product cost if Clarkson manufactured 4310 lamps for the year? 
Data table Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Print Beginning Ending $ Done 57,000 $ 25,000 103,000 67,000 47,000 50,000 Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Print Done $ 11,000 156,000 23,000 49,000 13,000 34,000 126,000 51,000
Transcribed Image Text:Data table Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Print Beginning Ending $ Done 57,000 $ 25,000 103,000 67,000 47,000 50,000 Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Print Done $ 11,000 156,000 23,000 49,000 13,000 34,000 126,000 51,000
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Cost of goods manufactured is the amount of the cost incurred on the making of the goods. It includes all direct and indirect costs.

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