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End-of-year information for the Austin Company is as follows: Beginning raw materials inventory $7,600 Beginning goods in process 11,200 Ending raw materials inventory 8,300 Ending goods in process 14,000 Direct labour 21,400 Total factory overhead 15,000 30,000 Raw material purchases All raw materials used were traceable to specific batches of product Austin Company's cost of goods manufactured for the year is: A) $62,900 B) $64,300 C) $65,700 D) $68,500 E) $69,900

End-of-year information for the Austin Company is as follows: Beginning raw materials inventory $7,600 Beginning goods in process 11,200 Ending raw materials inventory 8,300 Ending goods in process 14,000 Direct labour 21,400 Total factory overhead 15,000 30,000 Raw material purchases All raw materials used were traceable to specific batches of product Austin Company's cost of goods manufactured for the year is: A) $62,900 B) $64,300 C) $65,700 D) $68,500 E) $69,900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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End-of-year information for the Austin Company is as follows: Beginning raw materials inventory $7,600 Beginning goods in process 11,200 Ending raw materials inventory 8,300 Ending goods in process 14,000 Direct labour 21,400 Total factory overhead 15,000 30,000 Raw material purchases All raw materials used were traceable to specific batches of product Austin Company's cost of goods manufactured for the year is: A) $62,900 B) $64,300 C) $65,700 D) $68,500 E) $69,900
Transcribed Image Text:End-of-year information for the Austin Company is as follows: Beginning raw materials inventory $7,600 Beginning goods in process 11,200 Ending raw materials inventory 8,300 Ending goods in process 14,000 Direct labour 21,400 Total factory overhead 15,000 30,000 Raw material purchases All raw materials used were traceable to specific batches of product Austin Company's cost of goods manufactured for the year is: A) $62,900 B) $64,300 C) $65,700 D) $68,500 E) $69,900
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