Required: Prepare a schedule showing the cost of goods sold for 1990.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The company's direct labor costs were $1,353,600 and its total a st of goods manu-
percentage of direct labor costs. The ending inventories include the following'costs:
Problem 2-5 Detomining Cosł ol Goods Sold
factured was $4,820,000 for the year. Manufacturing overhead costs are a constant
· materials ($192,200), work in process ($128,000), and finished goods ($236,000).
pany's 1990 manufacturing performance. The beginning inventories included raw
The treasurer of Halc Company has accumulated cost data concerning the com
$1,353,600 and its total a st of goods manu-
The company's direct labor costs were
Raw
Work in
Process
Finished
Materials
Goods
$176,000
$44,000
44,800
$ 60,000
52,800
79,200
$192,000
Raw materials
Direct labor.
Manufacturing overhead
Tatal ending inventory.
$176,000
Required:
Prepare a schedule showing the cost of goods sold for 1990.
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