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The following data are for Billy Company: Finished goods inventory Work-in-process inventory Raw materials inventory Purchases of raw materials Factory depreciation Other factory costs Direct labour Indirect labour Selling expense Over- or underapplied overhead What is the cost of goods sold? O a. $120,000 O b. $131,000 O c. $81,000 O d. $91,000 Beginning Ending $40,000 $50,000 20,000 13,000 26,000 30,000 71,000 7,000 12,500 30,000 6,500 10,000 -0

The following data are for Billy Company: Finished goods inventory Work-in-process inventory Raw materials inventory Purchases of raw materials Factory depreciation Other factory costs Direct labour Indirect labour Selling expense Over- or underapplied overhead What is the cost of goods sold? O a. $120,000 O b. $131,000 O c. $81,000 O d. $91,000 Beginning Ending $40,000 $50,000 20,000 13,000 26,000 30,000 71,000 7,000 12,500 30,000 6,500 10,000 -0

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 data are for Billy Company: Finished goods inventory Work-in-process inventory Raw materials inventory Purchases of raw materials Factory depreciation Other factory costs Direct labour Indirect labour Selling expense Over- or underapplied overhead What is the cost of goods sold? O a. $120,000 O b. $131,000 O c. $81,000 O d. $91,000 Beginning Ending $40,000 $50,000 20,000 13,000 26,000 30,000 71,000 7,000 12,500 30,000 6,500 10,000 -0
Transcribed Image Text:The following data are for Billy Company: Finished goods inventory Work-in-process inventory Raw materials inventory Purchases of raw materials Factory depreciation Other factory costs Direct labour Indirect labour Selling expense Over- or underapplied overhead What is the cost of goods sold? O a. $120,000 O b. $131,000 O c. $81,000 O d. $91,000 Beginning Ending $40,000 $50,000 20,000 13,000 26,000 30,000 71,000 7,000 12,500 30,000 6,500 10,000 -0
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