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The accounting records of Bass SARL contain the following information: Raw Materials Used: $68,479 Direct Labor: $135,657 Manufacturing Overhead Incurred: $345,835 Work-in-Process inventory, Jan 1: $50,492 Work-in-Process inventory, Dec 31: $75,228 Finished Goods inventory, Jan 1: $172,181 Finished Goods inventory, Dec 31: $149,204 What is Cost of Goods Manufactured for the year?

The accounting records of Bass SARL contain the following information: Raw Materials Used: $68,479 Direct Labor: $135,657 Manufacturing Overhead Incurred: $345,835 Work-in-Process inventory, Jan 1: $50,492 Work-in-Process inventory, Dec 31: $75,228 Finished Goods inventory, Jan 1: $172,181 Finished Goods inventory, Dec 31: $149,204 What is Cost of Goods Manufactured for the year?

FINANCIAL ACCOUNTING
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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The accounting records of Bass SARL contain the following information:

  • Raw Materials Used: $68,479
  • Direct Labor: $135,657
  • Manufacturing Overhead Incurred: $345,835
  • Work-in-Process inventory, Jan 1: $50,492
  • Work-in-Process inventory, Dec 31: $75,228
  • Finished Goods inventory, Jan 1: $172,181
  • Finished Goods inventory, Dec 31: $149,204
What is Cost of Goods Manufactured for the year?
 
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