During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $20,000 and ending finished goods inventory of $23,500. Beginning work-in-process was $19,000 and ending work-in-process was 18,500. Factory overhead was $22,500. The total manufacturing costs amounted to $300,000. Use this information to determine the FY 2018 Cost of Goods Sold. (Round the answer to whole dollars only.)

During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $20,000 and ending finished goods inventory of $23,500. Beginning work-in-process was $19,000 and ending work-in-process was 18,500. Factory overhead was $22,500. The total manufacturing costs amounted to $300,000. Use this information to determine the FY 2018 Cost of Goods Sold. (Round the answer to whole dollars only.)

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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