Sluggo, a slot machine manufacturer, paid and incurred the following expenses during the year: Raw materials Materials and supplies Freight-in on raw materials $50,000 10,000 3,500 Freight on shipments of finished slot machines 5,000 Direct labor Indirect labor 35,000 15,000 20,000 Allocable overhead expenses for production The beginning inventory of finished goods was $35,000, and the ending inventory was $20,000. What is the amount of Sluggo's cost of goods sold for the year? a. $133,500 b. $148,500 c. $150,000 d. $168,500
Sluggo, a slot machine manufacturer, paid and incurred the following expenses during the year: Raw materials Materials and supplies Freight-in on raw materials $50,000 10,000 3,500 Freight on shipments of finished slot machines 5,000 Direct labor Indirect labor 35,000 15,000 20,000 Allocable overhead expenses for production The beginning inventory of finished goods was $35,000, and the ending inventory was $20,000. What is the amount of Sluggo's cost of goods sold for the year? a. $133,500 b. $148,500 c. $150,000 d. $168,500
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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