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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Transcribed Image Text: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.
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