Give me Solution Dawson Manufacturing Company's accounting recordsreflect the following inventories:Inventory TypeDec.31, Dec.31,20222021Raw materials inventory $280,000$240,000Workinventoryinprocess $320,000$180,000During 2022, $450,000 of raw materials werepurchased, direct labor costs amounted to $530,000,and manufacturing overhead incurred was $500,000.Usingthis information, calculate DawsonManufacturing Company's totalCompany's total cost of goodsmanufactured (COGM) for 2022.

Concept of Raw Materials UsedRaw materials used refer to the total amount of materials consumed in…

Answered: Dawson Manufacturing Company's…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of $125,900. Overhead Is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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