The general manager of the company requested the amount of "total cost of manufacturing" from the accounting manager and received a report about it. Then he asked for the amount of "cost of goods manufactured". However, the accounting manager said, "There is no need to calculate it, since it is the same as the total cost of manufacturing". Do you agree with the accounting manager's reply? (No need to calculate) Direct materials purchased Indirect labor cost Direct labor cost Manufacturing overhead cost Direct materials used Work-in-process inventory, beginning Work-in-process inventory, ending Number of units sold Number of units produced $200,000 $150,000 $230,000 $210,000 $180,000 $26,000 $26,000 9,600 10,000 27

The general manager of the company requested the amount of "total cost of manufacturing" from the accounting manager and received a report about it. Then he asked for the amount of "cost of goods manufactured". However, the accounting manager said, "There is no need to calculate it, since it is the same as the total cost of manufacturing". Do you agree with the accounting manager's reply? (No need to calculate) Direct materials purchased Indirect labor cost Direct labor cost Manufacturing overhead cost Direct materials used Work-in-process inventory, beginning Work-in-process inventory, ending Number of units sold Number of units produced $200,000 $150,000 $230,000 $210,000 $180,000 $26,000 $26,000 9,600 10,000 27

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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