During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $18,000 & ending finished goods inventory of $18,500. Beginning work-in-process was $20,000 and ending work- in-process was 14,500. Factory overhead was $22,500. The total manufacturing costs amounted to $298,000. Use this information to determine the FY 2018 Cost of Goods Sold.

During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $18,000 & ending finished goods inventory of $18,500. Beginning work-in-process was $20,000 and ending work- in-process was 14,500. Factory overhead was $22,500. The total manufacturing costs amounted to $298,000. Use this information to determine the FY 2018 Cost of Goods Sold.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5E: Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31,...

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