prepare a cost of goods manufactured schedule with data. The Molding Department of the Magic Spinning Frisbee Manufacturing Company has the following production and manufacturing cost data for February. 100% of materials are entered at the beginning of the process. Production Data: Beginning inventory 25,000 units, transferred out 65,000 units, ending inventory 17,500 units 75% complete as to conversion costs. Manufacturing Costs: Beginning inventory costs: $29,000 of materials and $53,000 of conversion costs; added in Molding during February: materials $793,375 and conversion costs $693,975.
prepare a cost of goods manufactured schedule with data. The Molding Department of the Magic Spinning Frisbee Manufacturing Company has the following production and manufacturing cost data for February. 100% of materials are entered at the beginning of the process. Production Data: Beginning inventory 25,000 units, transferred out 65,000 units, ending inventory 17,500 units 75% complete as to conversion costs. Manufacturing Costs: Beginning inventory costs: $29,000 of materials and $53,000 of conversion costs; added in Molding during February: materials $793,375 and conversion costs $693,975.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:prepare a cost of goods manufactured
schedule with data.
The Molding Department of the Magic Spinning Frisbee Manufacturing Company has
the following production and manufacturing cost data for February. 100% of
materials are entered at the beginning of the process.
Production Data: Beginning inventory 25,000 units, transferred out 65,000 units,
ending inventory 17,500 units 75% complete as to conversion costs.
Manufacturing Costs: Beginning inventory costs: $29,000 of materials and $53,000
of conversion costs; added in Molding during February: materials $793,375 and
conversion costs $693,975.
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