The following balances are from the accounts of Santa Maria Parts:July 1(Beginning)$ 95,800Direct materials inventoryWork-in-process inventoryFinished goods inventory88,60097,000Direct materials purchased during the quarter amount to $670,000, and the cost of goods sold for the quarter was $1,930,000.Required:Prepare a cost of goods sold statement.Manufacturing costs:Direct materials:Materials availableDirect materials usedTotal manufacturing costsTotal costs of work-in-processSANTA MARIA PARTSCost of Goods Sold StatementFor the Quarter Ended September 30Cost of goods manufacturedFinished goods available for saleCost of goods soldSeptember 30(Ending)$ 113,400$56,20091,0000$0$$00000

Name: The following balances are from the accounts of Santa Maria Parts:Jul
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Description: The following balances are from the accounts of Santa Maria Parts:July 1(Beginning)$ 95,800Direct materials inventoryWork-in-process inventoryFinished goods inventory88,60097,000Direct materials purchased during the quarter amount to $670,000, and t

Cost of goods sold -The sum of all expenses incurred in producing an item or service that has been…

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The following balances are from the accounts of Santa Maria Parts: July 1 (Beginning) $ 95,800 Direct materials inventory Work-in-process inventory Finished goods inventory Manufacturing costs: Direct materials: Materials available September 30 (Ending) 113,400 88,600 97,000 Direct materials purchased during the quarter amount to $670,000, and the cost of goods sold for the quarter was $1,930,000. Required: Prepare a cost of goods sold statement. $ $ SANTA MARIA PARTS Cost of Goods Sold Statement For the Quarter Ended September 30 56,200 91,000 0

The following balances are from the accounts of Santa Maria Parts: July 1 (Beginning) $ 95,800 Direct materials inventory Work-in-process inventory Finished goods inventory Manufacturing costs: Direct materials: Materials available September 30 (Ending) 113,400 88,600 97,000 Direct materials purchased during the quarter amount to $670,000, and the cost of goods sold for the quarter was $1,930,000. Required: Prepare a cost of goods sold statement. $ $ SANTA MARIA PARTS Cost of Goods Sold Statement For the Quarter Ended September 30 56,200 91,000 0

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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