Dawson manufacturing company's total cost of goods manufacturing for 2022? Dawson Manufacturing Company's accounting records reflectthe following inventories:Inventory TypeRaw materials inventoryDec. 31, 2022 Dec. 31, 2021$280,000Work in process inventory $320,000$240,000$180,000During 2022, $450,000 of raw materials were purchased, directlabor costs amounted to $530,000, and manufacturingoverhead incurred was $500,000.Using this information, calculate Dawson ManufacturingCompany's total cost of goods manufactured (COGM) for2022.

Explanation of Raw Materials Inventory: Raw materials inventory represents the value of unprocessed…

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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