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HomeGoods Co. provided the following information for the year ended December 31, 20Y1CostsAmountsWork-in-process inventory - beginning balance$620,000Work-in-process inventory - ending balance$570,000 Finished goods inventory - beginning balance$150,000 Finished goods inventory - ending balance$170,000Direct material placed in production$78,000Selling expenses$85,000General and administrative expenses$245,000Direct labor used in production$130,000 Manufacturing overhead$590,000Costs of goods manufactured for the year ended December 31, 20Y1 is: $Costs of goods sold for the year ended December 31, 20Y1 is: $Instruction: Do not use "$" in your answer. Use thousand separator. E. g., 1,500,000

HomeGoods Co. provided the following information for the year ended December 31, 20Y1CostsAmountsWork-in-process inventory - beginning balance$620,000Work-in-process inventory - ending balance$570,000 Finished goods inventory - beginning balance$150,000 Finished goods inventory - ending balance$170,000Direct material placed in production$78,000Selling expenses$85,000General and administrative expenses$245,000Direct labor used in production$130,000 Manufacturing overhead$590,000Costs of goods manufactured for the year ended December 31, 20Y1 is: $Costs of goods sold for the year ended December 31, 20Y1 is: $Instruction: Do not use "$" in your answer. Use thousand separator. E. g., 1,500,000

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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HomeGoods Co. provided the following information for the year ended December 31, 20Y1CostsAmountsWork-in-process inventory - beginning balance$620,000Work-in-process inventory - ending balance$570,000 Finished goods inventory - beginning balance$150,000 Finished goods inventory - ending balance$170,000Direct material placed in production$78,000Selling expenses$85,000General and administrative expenses$245,000Direct labor used in production$130,000 Manufacturing overhead$590,000Costs of goods manufactured for the year ended December 31, 20Y1 is: $Costs of goods sold for the year ended December 31, 20Y1 is: $Instruction: Do not use "$" in your answer. Use thousand separator. E. g., 1,500,000
Transcribed Image Text:HomeGoods Co. provided the following information for the year ended December 31, 20Y1CostsAmountsWork-in-process inventory - beginning balance$620,000Work-in-process inventory - ending balance$570,000 Finished goods inventory - beginning balance$150,000 Finished goods inventory - ending balance$170,000Direct material placed in production$78,000Selling expenses$85,000General and administrative expenses$245,000Direct labor used in production$130,000 Manufacturing overhead$590,000Costs of goods manufactured for the year ended December 31, 20Y1 is: $Costs of goods sold for the year ended December 31, 20Y1 is: $Instruction: Do not use "$" in your answer. Use thousand separator. E. g., 1,500,000
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