The records of SURLY BAD TEMPERED Co. showed the following information: Decrease in accounts payable 60,000 Disbursements for purchases 440,000 Increase in raw materials 100,000 Direct labor is 50% of raw materials used in production Manufacturing overhead is 20% of prime costs Increase in work-in-process inventory 40,000 Decrease in finished goods inventory 50,000 How much is the cost of goods sold? a. 380,000 b. 464,000 c. 514,000 d. 546,000

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A: Absorption costing is a method of costing that considers both variable and fixed costs for product…

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A: Step 1: Introduction to the Cost of GoodsWe have manufacturing costs, cost of goods manufactured,…

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A: The cost of goods sold is the entire cost allocated to the units sold.

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Q: How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?

A: Cost of goods sold refers to the direct cost of producing the product for sale.It includes direct…

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A: Cost of goods sold(COGS) implies for the amount of outlay made on making the goods which are sold in…

Q: Based on variable costing, what would NUBD Corp. show as the value of its ending inventory?

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A: Year 1  Year 2  Direct Material  $                7.00 $                7.00 Direct labour  $…

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A: Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…

Q: 4 Total Manufacturing Costs Cost of Goods Manufactured Cost of Goods Sold

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A: Cost of goods sold will be the cost of goods manufactured increased by beginning finished goods…

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A: Solution:- Calculation of Differential cost analysis as follows:-

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A:

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.