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In Phoenix Works, for the year 2024, what is the cost of goods manufactured if the beginning work in process was $55,000, ending work in process was $50,000, raw materials used were $90,000, direct labor was $65,000, manufacturing overhead was $35,000, and administrative salaries were $15,000?

In Phoenix Works, for the year 2024, what is the cost of goods manufactured if the beginning work in process was $55,000, ending work in process was $50,000, raw materials used were $90,000, direct labor was $65,000, manufacturing overhead was $35,000, and administrative salaries were $15,000?

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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In Phoenix Works, for the year 2024, what is the cost of goods manufactured if the beginning work in process was $55,000, ending work in process was $50,000, raw materials used were $90,000, direct labor was $65,000, manufacturing overhead was $35,000, and administrative salaries were $15,000?
Transcribed Image Text:In Phoenix Works, for the year 2024, what is the cost of goods manufactured if the beginning work in process was $55,000, ending work in process was $50,000, raw materials used were $90,000, direct labor was $65,000, manufacturing overhead was $35,000, and administrative salaries were $15,000?
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