Marigold Manufacturing Inc.'s accounting records reflect the following inventories:     Dec. 31, 2021 Dec. 31, 2022   Raw materials inventory $100400 $79900   Work in process inventory 129200 145300   Finished goods inventory 125600 114000 During 2022, Marigold purchased $949000 of raw materials, incurred direct labour costs of $124200, and incurred manufacturing overhead totalling $159300. Marigold Manufacturing’s cost of goods manufactured for 2022 amounted to $1236900. How much would it report as cost of goods sold for the year? $1361100 $1225300 $1248600 $1248500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Marigold Manufacturing Inc.'s accounting records reflect the following inventories:

   
Dec. 31, 2021
Dec. 31, 2022
 
Raw materials inventory
$100400 $79900
 
Work in process inventory
129200 145300
 
Finished goods inventory
125600 114000

During 2022, Marigold purchased $949000 of raw materials, incurred direct labour costs of $124200, and incurred manufacturing overhead totalling $159300. Marigold Manufacturing’s cost of goods manufactured for 2022 amounted to $1236900. How much would it report as cost of goods sold for the year?
$1361100
$1225300
$1248600
$1248500
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