Exercise 10-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 10- 3 Baird Manufacturing Company began operations on January 1. During the year, it started and completed 1,700 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,200. 2. Wages of production workers-$3,630. 3. Salaries of administrative and sales personnel-$1,945. 4. Depreciation on manufacturing equipment-$4,560. 5. Depreciation on administrative equipment-$1,815.

Exercise 10-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 10- 3 Baird Manufacturing Company began operations on January 1. During the year, it started and completed 1,700 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3,200. 2. Wages of production workers-$3,630. 3. Salaries of administrative and sales personnel-$1,945. 4. Depreciation on manufacturing equipment-$4,560. 5. Depreciation on administrative equipment-$1,815.

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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