**NBGLIR982 Corp's Reported Data for the Month****Inventories:**- **Raw Materials (All Direct Materials)** - Beginning: $38,600 - Ending: $18,800- **Work in Process** - Beginning: $20,200 - Ending: $16,800- **Finished Goods** - Beginning: $53,800 - Ending: $71,500(ID#65926)**Additional Information for NBGLIR982:**- Raw Materials Purchases: $69,700- Direct Labor Cost: $72,900- Manufacturing Overhead Cost Actually Incurred: $49,200- Manufacturing Overhead Cost Applied to Work in Process: $47,100*(Baruch College Exam)***Question:** What is the adjusted cost of goods sold that appears on NBGLIR982's income statement for the month?**Answer:** A) $______

The question is based on the concept of Cost Accounting. Cost of goods sold is calculated by adding…

NBGLIR982 Corp's reported data for the month: Inventories: Raw materials (All Direct Materials) Work in process Finished goods (ID#65926) Additional information for NBGLIR982: Raw materials purchases Direct labor cost Beginning $38,600 $20,200 $53,800 $69,700 $72,900 Ending $18,800 $16,800 $71,500 Manufacturing overhead cost actually incurred $49,200 Manufacturing overhead cost applied to Work in Process $47,100 (Baruch College Exam) Q) What is the adjusted cost of goods sold that appears on NBGLIR982's income statement for the month? A) $

NBGLIR982 Corp's reported data for the month: Inventories: Raw materials (All Direct Materials) Work in process Finished goods (ID#65926) Additional information for NBGLIR982: Raw materials purchases Direct labor cost Beginning $38,600 $20,200 $53,800 $69,700 $72,900 Ending $18,800 $16,800 $71,500 Manufacturing overhead cost actually incurred $49,200 Manufacturing overhead cost applied to Work in Process $47,100 (Baruch College Exam) Q) What is the adjusted cost of goods sold that appears on NBGLIR982's income statement for the month? A) $

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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GROUPER COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Equivalent Units of Production Physical QUANTITIES Units Materials Units to be accounted for Work in process, May 1 7,360 Started into production 29,440 Total units to be accounted for 36,800 Units accounted for Completed and transferred out 32,200 Work in process, May 31 4,600 Total units accounted for 36,800 COSTS Unit costs Costs in May Materials $128,800 Conversion Costs Conversion Costs $148,580 Total $277,380
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