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The following balances appear on the accounts of Greusel Fabrication March 1 (Beginning) March 31 (Ending) $ 47,000 $ 42,000 68,000 72,200 48,500 44,200 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) $ 47,000 $ 42,000 68,000 72,200 48,500 44,200 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
Problem 1Q
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The following balances appear on the accounts of Greusel Fabrication March 1 (Beginning) $ 42,000 68,000 48,500 Direct materials used during the month amount to $531,000 and the cost of goods sold for the month was $1,496,000. Direct materials inventory Work in process inventory Finished goods inventory Required: Prepare a cost of goods sold statement Manufacturing costs Direct matenals Matonals available Direct materials used Total manufacturing costs Total costs of work in process Cost of goods manufactured GREUSEL FABRICATION Cost of Goods Sold Statement For the Month Ended March 31 March 31 (Ending) $ 47,000 72,200 44,200
Transcribed Image Text:The following balances appear on the accounts of Greusel Fabrication March 1 (Beginning) $ 42,000 68,000 48,500 Direct materials used during the month amount to $531,000 and the cost of goods sold for the month was $1,496,000. Direct materials inventory Work in process inventory Finished goods inventory Required: Prepare a cost of goods sold statement Manufacturing costs Direct matenals Matonals available Direct materials used Total manufacturing costs Total costs of work in process Cost of goods manufactured GREUSEL FABRICATION Cost of Goods Sold Statement For the Month Ended March 31 March 31 (Ending) $ 47,000 72,200 44,200
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
Transcribed Image Text: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
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