1:43RecentRichards Company manufactures a single product. All rawmaterials used were direct materials. Current information forthe company follows:Beginning raw materials inventoryEnding raw materials inventoryRaw material purchases$ 10,00012,00090,000Beginning work in process inventory 40,000Ending work in process inventory25,000Direct labor130,000Total factory overhead60,00055,00045,000Beginning finished goods inventoryEnding finished goods inventoryOptionAThe company's cost of direct materials used, cost of goodsmanufactured and cost of goods sold are:OptionBOptionCOptionDon▸my.cbd.eduCBDCollegewww.cbd.edu—Cost ofCost of GoodsMaterials Used Manufactured$90,000$92,000$88,000$88,000$92,000$293,000$293,000.LTE$263,000$293,000$263,000Cost ofGoods Sold$283,000$303,000$283,000$303,000$293,000

Name: 1:43RecentRichards Company manufactures a single product. All rawmate
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Description: 1:43RecentRichards Company manufactures a single product. All rawmaterials used were direct materials. Current information forthe company follows:Beginning raw materials inventoryEnding raw materials inventoryRaw material purchases$ 10,00012,00090,0

Cost of materials used :— It is cost of direct raw materials used in the manufacturing of product.…

Business

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Richards Company manufactures a single product. All raw materials used were direct materials. Current information f the company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases $10,000 12,000 90,000 Beginning work in process inventory 40,000 Ending work in process inventory 25,000 Direct labor 130,000 Total factory overhead 60,000 Beginning finished goods inventory 55,000 Ending finished goods inventory 45,000 The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are: Option A Option B Option C Option D on Cost of Cost of Goods Materials Used Manufactured $90,000 $92,000 $88,000 $88,000 $92,000 $293,000 $293,000 $263,000 $293,000 $263,000 Cost of Goods Sold $283,000 $303,000 $283,000 $303,000 $293,000

Richards Company manufactures a single product. All raw materials used were direct materials. Current information f the company follows: Beginning raw materials inventory Ending raw materials inventory Raw material purchases $10,000 12,000 90,000 Beginning work in process inventory 40,000 Ending work in process inventory 25,000 Direct labor 130,000 Total factory overhead 60,000 Beginning finished goods inventory 55,000 Ending finished goods inventory 45,000 The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are: Option A Option B Option C Option D on Cost of Cost of Goods Materials Used Manufactured $90,000 $92,000 $88,000 $88,000 $92,000 $293,000 $293,000 $263,000 $293,000 $263,000 Cost of Goods Sold $283,000 $303,000 $283,000 $303,000 $293,000

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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