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The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) March 31 (Ending) $ 52,000 $ 47,000 73,000 53,500 77,200 49,200 Direct materials used during the month amount to $536,000 and the cost of goods sold for the month was $1,546,000. Required: Prepare a cost of goods sold statement. Direct materials inventory Work-in-process inventory Finished goods inventory

The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) March 31 (Ending) $ 52,000 $ 47,000 73,000 53,500 77,200 49,200 Direct materials used during the month amount to $536,000 and the cost of goods sold for the month was $1,546,000. Required: Prepare a cost of goods sold statement. Direct materials inventory Work-in-process inventory Finished goods inventory

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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4 The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) $ 47,000 73,000 March 31 (Ending) $ 52,000 77,200 53,500 49,200 Direct materials used during the month amount to $536,000 and the cost of goods sold for the month was $1,546,000 Required: Prepare a cost of goods sold statement. Direct materials inventory Work-in-process inventory Finished goods inventory 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
Transcribed Image Text:4 The following balances appear on the accounts of Greusel Fabrication: March 1 (Beginning) $ 47,000 73,000 March 31 (Ending) $ 52,000 77,200 53,500 49,200 Direct materials used during the month amount to $536,000 and the cost of goods sold for the month was $1,546,000 Required: Prepare a cost of goods sold statement. Direct materials inventory Work-in-process inventory Finished goods inventory 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
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