Statement of cost of goods manufactured The following information is from ABC Company’s general ledger: Beginning and ending inventories, respectively, for raw materials were $8,000 and $10,000 and for work in process were $20,000 and $22,000. Raw material purchases and direct labor costs incurred were $36,000 each, and manufacturing overhead applied amounted to $20,000.Required:Prepare a statement of cost of goods manufactured for ABC Company.
Statement of cost of goods manufactured The following information is from ABC Company’s general ledger: Beginning and ending inventories, respectively, for raw materials were $8,000 and $10,000 and for work in process were $20,000 and $22,000. Raw material purchases and direct labor costs incurred were $36,000 each, and manufacturing overhead applied amounted to $20,000.Required:Prepare a statement of cost of goods manufactured for ABC Company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Statement of cost of goods manufactured The following information is from ABC Company’s general ledger: Beginning and ending inventories, respectively, for raw materials were $8,000 and $10,000 and for work in process were $20,000 and $22,000. Raw material purchases and direct labor costs incurred were $36,000 each, and manufacturing
Required:
Prepare a statement of cost of goods manufactured for ABC Company.
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