The following information was taken from the accounting records of the Brothers Company for the year ended 31/12/2020: Increase in Raw Material Inventory $ 30,000 Decrease in Finished Goods Inventory $ 70,000 Purchases of Raw Materials during the year $ 860,000 Direct Manufacturing Labor $ 400,000 Applied Manufacturing Overhead $ 600,000 Delivery expenses $ 90,000 Beginning and Ending Work In Process $ 0 What is the cost of goods manufactured for the year 2020? O a. $ 1,890,000 O b. $ 1,800,000 O c. $ 1,850,000 d. $ 1,830,000

The following information was taken from the accounting records of the Brothers Company for the year ended 31/12/2020: Increase in Raw Material Inventory $ 30,000 Decrease in Finished Goods Inventory $ 70,000 Purchases of Raw Materials during the year $ 860,000 Direct Manufacturing Labor $ 400,000 Applied Manufacturing Overhead $ 600,000 Delivery expenses $ 90,000 Beginning and Ending Work In Process $ 0 What is the cost of goods manufactured for the year 2020? O a. $ 1,890,000 O b. $ 1,800,000 O c. $ 1,850,000 d. $ 1,830,000

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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