DS-25999 company provided the following data for the end of the year (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials $204,000 $243,000 $ 20,000 $146,000 Direct labor Administrative expenses Manufacturing overhead applied to work in process$358,000 Actual manufacturing overhead cost $328,000 Inventory balances at the beginning and end of the year were as follows: Beginning End of of Year Year Raw materials Work in process Finished goods $60,000 $25,000 24 $38,000 $33,000 $44,000 For the year, the cost of goods available for sale was $704,000 and the net operating income as reported in its income statement income was $51,000. The DS-25999 company's underapplied or overapplied overhead was closed to Cost of Goods Sold. How much was the DS-25999 company's sales revenue for the year?

DS-25999 company provided the following data for the end of the year (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials $204,000 $243,000 $ 20,000 $146,000 Direct labor Administrative expenses Manufacturing overhead applied to work in process$358,000 Actual manufacturing overhead cost $328,000 Inventory balances at the beginning and end of the year were as follows: Beginning End of of Year Year Raw materials Work in process Finished goods $60,000 $25,000 24 $38,000 $33,000 $44,000 For the year, the cost of goods available for sale was $704,000 and the net operating income as reported in its income statement income was $51,000. The DS-25999 company's underapplied or overapplied overhead was closed to Cost of Goods Sold. How much was the DS-25999 company's sales revenue for the year?

Name: DS-25999 company provided the following data for the end of the year
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Description: DS-25999 company provided the following data for the end of the year (all raw materials are used in production as direct materials):Selling expensesPurchases of raw materials$204,000$243,000$ 20,000$146,000Direct laborAdministrative expensesManufact

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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