The following accounts are from last year's books at Sharp Manufacturing: Balance (a) Balance (f) (g) Debit Debit Debit Raw Materials 0 (b) 164,000 10,000 Finished Goods 0 (g) 510,000 50,000 Cost of Goods Sold 460,000 Credit Credit Credit 154,000 Balance (b) (c) (e) 460,000 (b) (c) (d) Debit Debit Work In Process 0 (f) 132,000 168,000 210,000 0 Manufacturing Overhead 22,000 (e) 26,000 156,000 Credit Credit 510,000 210,000 6,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following accounts are from last year's books at Sharp Manufacturing:
Balance
(a)
Balance
(f)
(g)
Debit
Debit
Debit
Raw Materials
0 (b)
164,000
10,000
Finished Goods
0 (g)
510,000
50,000
Cost of Goods Sold
460,000
Credit
Credit
Credit
154,000 Balance
(b)
(C)
(e)
460,000 (b)
(c)
(d)
Debit
Debit
Work In Process
0 (f)
132,000
168,000
210,000
0
Manufacturing Overhead
22,000 (e)
26,000
156,000
Credit
Credit
510,000
210,000
6,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost
of goods manufactured for the year?
Transcribed Image Text:The following accounts are from last year's books at Sharp Manufacturing: Balance (a) Balance (f) (g) Debit Debit Debit Raw Materials 0 (b) 164,000 10,000 Finished Goods 0 (g) 510,000 50,000 Cost of Goods Sold 460,000 Credit Credit Credit 154,000 Balance (b) (C) (e) 460,000 (b) (c) (d) Debit Debit Work In Process 0 (f) 132,000 168,000 210,000 0 Manufacturing Overhead 22,000 (e) 26,000 156,000 Credit Credit 510,000 210,000 6,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?
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