Emma Fabrication Ltd. incurred direct labor costs of $180,000, and manufacturing overhead amounted to $160,000 during the year ended 31 December 2023. Materials purchases for the year were $210,000. Opening and closing inventories were as follows: 1 Jan 2023 31 Dec 2023 Direct materials $52,000 Work-in-process $24,000 Finished goods $70,000 Required: $39,000 $29,000 $66,000 1. Calculate the Cost of Goods Manufactured by Emma Fabrication Ltd. 2. Calculate the Cost of Goods Sold by Emma Fabrication Ltd.

Emma Fabrication Ltd. incurred direct labor costs of $180,000, and manufacturing overhead amounted to $160,000 during the year ended 31 December 2023. Materials purchases for the year were $210,000. Opening and closing inventories were as follows: 1 Jan 2023 31 Dec 2023 Direct materials $52,000 Work-in-process $24,000 Finished goods $70,000 Required: $39,000 $29,000 $66,000 1. Calculate the Cost of Goods Manufactured by Emma Fabrication Ltd. 2. Calculate the Cost of Goods Sold by Emma Fabrication Ltd.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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