Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended December 31: Materials Work in Process Finished Goods $102,000 $97,500 $117,150 January 1 $128,500 $11,000 19,800 23,100 December 31 In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year? $ 8,800 18,700 18,150
Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended December 31: Materials Work in Process Finished Goods $102,000 $97,500 $117,150 January 1 $128,500 $11,000 19,800 23,100 December 31 In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year? $ 8,800 18,700 18,150
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...
Related questions
Question
![Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended
December 31:
Materials
Work in Process
Finished Goods
$102,000
$97,500
$117,150
January 1
$128,500
$11,000
19,800
23,100
December 31
In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased
were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product
during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year?
$ 8,800
18,700
18,150](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5fce1f36-3621-4521-9495-ef38f12af896%2Fa67534ef-0b61-4830-811d-eac2abbe8c3b%2F7oesvm8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended
December 31:
Materials
Work in Process
Finished Goods
$102,000
$97,500
$117,150
January 1
$128,500
$11,000
19,800
23,100
December 31
In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased
were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product
during the year at a sales price of $5.25 per unit. What was the amount of cost of goods sold for the year?
$ 8,800
18,700
18,150
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Principles of Cost Accounting](https://www.bartleby.com/isbn_cover_images/9781305087408/9781305087408_smallCoverImage.gif)
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Principles of Cost Accounting](https://www.bartleby.com/isbn_cover_images/9781305087408/9781305087408_smallCoverImage.gif)
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
![Cornerstones of Cost Management (Cornerstones Ser…](https://www.bartleby.com/isbn_cover_images/9781305970663/9781305970663_smallCoverImage.gif)
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,