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OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING Problem 2-5 Detomining Cost ol Goods Sold. The treasurer of Hale Company has accumulated cost data concerning the com- pany's 1990 manufacturing performance. The beginning inventories included raw materials ($192,200), work in process ($128,000), and finisbei goods ($236,000). The company's direct labor costs were $1,353,600 and its total c. st of goods manu- factured was $4,820,000 for the year. Manufacturing overhead costs are a constant percentage of direct labor costs. The ending inventories include the following costs: Work in Finished Raw Materials Process Goods $ 60,000 52,800 79,200 $192,000 $44,000 44,800 Raw materials $176,000 Direct labor Manufacturing overhead Total encilng inventory $176,000 Required: Trepare a schedule showing the cost of goods sold for 1990. oblem 2-6 Detemining Cost of Goods Sold oward Manufacturing Corporation incurred direct labor costs of $453,600, and i tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea sts are a constant percentage of direct labor costs. The beginaing inventories in ded raw materials ($90,000), work in process ($99,600), and finished good 50,000). The ending inventories include the following costs: Following December

OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING Problem 2-5 Detomining Cost ol Goods Sold. The treasurer of Hale Company has accumulated cost data concerning the com- pany's 1990 manufacturing performance. The beginning inventories included raw materials ($192,200), work in process ($128,000), and finisbei goods ($236,000). The company's direct labor costs were $1,353,600 and its total c. st of goods manu- factured was $4,820,000 for the year. Manufacturing overhead costs are a constant percentage of direct labor costs. The ending inventories include the following costs: Work in Finished Raw Materials Process Goods $ 60,000 52,800 79,200 $192,000 $44,000 44,800 Raw materials $176,000 Direct labor Manufacturing overhead Total encilng inventory $176,000 Required: Trepare a schedule showing the cost of goods sold for 1990. oblem 2-6 Detemining Cost of Goods Sold oward Manufacturing Corporation incurred direct labor costs of $453,600, and i tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea sts are a constant percentage of direct labor costs. The beginaing inventories in ded raw materials ($90,000), work in process ($99,600), and finished good 50,000). The ending inventories include the following costs: Following December

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Solve Problem 2.5
OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING Problem 2-5 Detomining Cost ol Goods Sold The treasurer of Hale Company has accumulated cost data coocerning the com- pany's 1990 manufacturing performance. The beginning inventories included raw materials ($192,200), work in process ($128,000), and finisbed goods ($236,000). The company's direct labor costs were $1,353,600 and its total c st of goods manu- factured was $4,820,000 for the year. Manufacturing overhead costs are a constant percentage of direct labor costs. The ending inventories include the following costs: Work in Finished Raw Materials Process Goods $ 60,000 52,800 79,200 $192,000 $44,000 44,800 Raw materials $176,000 Direct labor Manufacturing overhead Total enaing invenlory $176,000 Required: Prepare a schedule showing the cost of goods sold for 1990. oblem 2-6 Detemining Cost of Goods Sold oward Manufacturing Corporation incurred direct labor costs of $453,600, and it tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea sts are a constant percentage of direct labor costs. The beginuing inventories in ded raw materials ($90,000), work in process ($99,600), and finished good 50,000). The ending inventories include the following costs: Following information a December 31,
Transcribed Image Text:OPING A COST DATA BASE FOR MANAGERIAL ACCOUNTING Problem 2-5 Detomining Cost ol Goods Sold The treasurer of Hale Company has accumulated cost data coocerning the com- pany's 1990 manufacturing performance. The beginning inventories included raw materials ($192,200), work in process ($128,000), and finisbed goods ($236,000). The company's direct labor costs were $1,353,600 and its total c st of goods manu- factured was $4,820,000 for the year. Manufacturing overhead costs are a constant percentage of direct labor costs. The ending inventories include the following costs: Work in Finished Raw Materials Process Goods $ 60,000 52,800 79,200 $192,000 $44,000 44,800 Raw materials $176,000 Direct labor Manufacturing overhead Total enaing invenlory $176,000 Required: Prepare a schedule showing the cost of goods sold for 1990. oblem 2-6 Detemining Cost of Goods Sold oward Manufacturing Corporation incurred direct labor costs of $453,600, and it tal cost of goods manufactured was $1,480,000 for 1990. Manufacturing overbea sts are a constant percentage of direct labor costs. The beginuing inventories in ded raw materials ($90,000), work in process ($99,600), and finished good 50,000). The ending inventories include the following costs: Following information a December 31,
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