Please find the following:Conversion CostManufacturing CostCost of Goods SoldCost of Goods Manufactured A partial trial balance of the Brown Manufacturing Corporation as of December31. 2000 follows:PROFITPurchase of raw materialsDirect laborIndirect laborFactory rentOffice rentDepreciation - machineryDepreciation - office equipmentInsurance factorySalespersons' salariesRepairs and maintenance - machineryAdministrative salariesMiscellaneous factoryMiscellaneous officeSales160,000225.00040,000৪4.00048,00035,0008,00018,00072,00012,00050,00026,00040,000850,000January 1 inventories are:Raw materialsWork in processFinished goodsP 45,00030,000125,000December 31 inventories are:Raw materialsWork in processFinished goodsP 40,00035,000110,000..........................

Conversion cost means the total of direct labor and factory overhead where as manufacturing cost…

Answered: Please find the following: Conversion…

Business

Accounting

Please find the following: Conversion Cost Manufacturing Cost Cost of Goods Sold Cost of Goods Manufactured

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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Question

Please find the following:

Conversion Cost

Manufacturing Cost

Cost of Goods Sold

Cost of Goods Manufactured

A partial trial balance of the Brown Manufacturing Corporation as of December
31. 2000 follows:
PROFIT
Purchase of raw materials
Direct labor
Indirect labor
Factory rent
Office rent
Depreciation - machinery
Depreciation - office equipment
Insurance factory
Salespersons' salaries
Repairs and maintenance - machinery
Administrative salaries
Miscellaneous factory
Miscellaneous office
Sales
160,000
225.000
40,000
৪4.000
48,000
35,000
8,000
18,000
72,000
12,000
50,000
26,000
40,000
850,000
January 1 inventories are:
Raw materials
Work in process
Finished goods
P 45,000
30,000
125,000
December 31 inventories are:
Raw materials
Work in process
Finished goods
P 40,000
35,000
110,000
..........
.......
.........

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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