New Masala Soda produces one flavor of a popular local soft drink. It had no work-in- process on October 31 in its only inventory account. During November, New Masala started 18,000 barrels. Work-in-process on November 30 is 4,300 barrels. The production supervisor estimates that the ending work-in-process inventory is 25% complete. An examination of New Masala's accounting records shows direct material costs of $29,029 and conversion costs of $31,100 for November. All production is sold as it is produced. Required: Compute the cost of goods sold for November. (Round your calculation to 2 Decimal) (1) $45,652 (2) $55,622 (3) $66,722 (4) $25,120 (5) $50,605

New Masala Soda produces one flavor of a popular local soft drink. It had no work-in- process on October 31 in its only inventory account. During November, New Masala started 18,000 barrels. Work-in-process on November 30 is 4,300 barrels. The production supervisor estimates that the ending work-in-process inventory is 25% complete. An examination of New Masala's accounting records shows direct material costs of $29,029 and conversion costs of $31,100 for November. All production is sold as it is produced. Required: Compute the cost of goods sold for November. (Round your calculation to 2 Decimal) (1) $45,652 (2) $55,622 (3) $66,722 (4) $25,120 (5) $50,605

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 14E: For each of the following independent situations, calculate the missing values: 1. The Belen plant...

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