provided the following information for July, 20X2. July 1 Raw materials inventory Work in process inventory Finished goods inventory $40,000 $17,000 $34,000 July July 31 $36,000 $15,000 $36,000
provided the following information for July, 20X2. July 1 Raw materials inventory Work in process inventory Finished goods inventory $40,000 $17,000 $34,000 July July 31 $36,000 $15,000 $36,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![provided the following information for July, 20X2.
Raw materials inventory
Work in process inventory
Finished goods inventory
Sales
Direct labour
Manufacturing overhead
Selling expenses
Administrative expenses
Raw materials purchased
July 1
$40,000
$17,000
$34,000
July
$250,000
43,000
60,000
30,000
36,000
42,000
July 31
$ 36,000
$15,000
$36,000
a) Provide, in good form, a Schedule of Cost of Goods Manufactured for the month?
b) Calculate cost of goods sold for the month?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9d544ade-3d55-4d9c-9b2b-d83e25fc2074%2Fc5c591ff-86fb-4a28-9c7b-24679f94b962%2Fdvcx68_processed.jpeg&w=3840&q=75)
Transcribed Image Text:provided the following information for July, 20X2.
Raw materials inventory
Work in process inventory
Finished goods inventory
Sales
Direct labour
Manufacturing overhead
Selling expenses
Administrative expenses
Raw materials purchased
July 1
$40,000
$17,000
$34,000
July
$250,000
43,000
60,000
30,000
36,000
42,000
July 31
$ 36,000
$15,000
$36,000
a) Provide, in good form, a Schedule of Cost of Goods Manufactured for the month?
b) Calculate cost of goods sold for the month?
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