The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) $ 43,000 Direct materials inventory Work-in-process inventory Finished goods inventory March 31 (Ending) $ 48,000 73,200 69,000 49,500 45,200 Direct materials used during the month amount to $532,000 and the cost of goods sold for the month was $1,506,000. Required: Prepare a cost of goods sold statement. Manufacturing costs: Direct materials: Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Finished goods available for sale Cost of goods sold GREUSEL FABRICATION Cost of Goods Sold Statement For the Month Ended March 31
The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) $ 43,000 Direct materials inventory Work-in-process inventory Finished goods inventory March 31 (Ending) $ 48,000 73,200 69,000 49,500 45,200 Direct materials used during the month amount to $532,000 and the cost of goods sold for the month was $1,506,000. Required: Prepare a cost of goods sold statement. Manufacturing costs: Direct materials: Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Finished goods available for sale Cost of goods sold GREUSEL FABRICATION Cost of Goods Sold Statement For the Month Ended March 31
Chapter1: Financial Statements And Business Decisions
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