PA6 LO 4,5 During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900 Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances Raw materials inventory Work in process inventory Finished goods inventory Beginning $ 17,433 241,439 312.842 Ending $ 16,428 234,423 342,384 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold
PA6 LO 4,5 During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900 Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances Raw materials inventory Work in process inventory Finished goods inventory Beginning $ 17,433 241,439 312.842 Ending $ 16,428 234,423 342,384 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:PA6 LO 4.5 During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900
Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances
Raw materials inventory
Work in process inventory.
Finished goods inventory
Beginning
$ 17,433
241,439
312.842
Ending
$ 16,428
234,423
342,384
Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold
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