The following data are taken from the general ledger and other records of Du-sik Manufacturing on January 31, the end of the first month of operations in the current fiscal year: Sales - 75,00O; Materials inventory (January 1) - 25,000; Work in process inventory (January 1) - 24,000; Finished goods inventory (January 1) - 32,000; Materials Purchased - 21,000; Direct labor cost - 18,000; Factory overhead (including 1,000 of indirect materials used and 3,000 of indirect labor cost) - 12,000; Selling and Administrative expenses - 10,000; Inventories at January 31: Materials - 22,000; Work in Process - 20,000; Finished Goods - 30,000. How much is the cost of goods solo2 *
The following data are taken from the general ledger and other records of Du-sik Manufacturing on January 31, the end of the first month of operations in the current fiscal year: Sales - 75,00O; Materials inventory (January 1) - 25,000; Work in process inventory (January 1) - 24,000; Finished goods inventory (January 1) - 32,000; Materials Purchased - 21,000; Direct labor cost - 18,000; Factory overhead (including 1,000 of indirect materials used and 3,000 of indirect labor cost) - 12,000; Selling and Administrative expenses - 10,000; Inventories at January 31: Materials - 22,000; Work in Process - 20,000; Finished Goods - 30,000. How much is the cost of goods solo2 *
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![The following data are taken from the
general ledger and other records of
Du-sik Manufacturing on January 31,
the end of the first month of
operations in the current fiscal year:
Sales - 75,000; Materials inventory
(January 1) - 25,000; Work in process
inventory (January 1) - 24,000;
Finished goods inventory (January 1) -
32,000; Materials Purchased - 21,000;
Direct labor cost - 18,000; Factory
overhead (including 1,000 of indirect
materials used and 3,000 of indirect
labor cost) - 12,000; Selling and
Administrative expenses - 10,000;
Inventories at January 31: Materials -
22,000; Work in Process - 20,000;
Finished Goods - 30,000. How much
is the cost of goods sold? *](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F20c187ea-d91d-4503-8c8c-cc8ca3288763%2Fc7deccc5-87e5-40a3-a71a-a974cb09e1d7%2Fg9gugtm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following data are taken from the
general ledger and other records of
Du-sik Manufacturing on January 31,
the end of the first month of
operations in the current fiscal year:
Sales - 75,000; Materials inventory
(January 1) - 25,000; Work in process
inventory (January 1) - 24,000;
Finished goods inventory (January 1) -
32,000; Materials Purchased - 21,000;
Direct labor cost - 18,000; Factory
overhead (including 1,000 of indirect
materials used and 3,000 of indirect
labor cost) - 12,000; Selling and
Administrative expenses - 10,000;
Inventories at January 31: Materials -
22,000; Work in Process - 20,000;
Finished Goods - 30,000. How much
is the cost of goods sold? *
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education