Trinkle Dinkle Co. incurred the following actual costs during 2022: Direct Material $387,500 Used Direct Labor $165,000 Manufacturing $365,000 Overhead The company uses a normal costing system (i.e - applies overhead) and has a pre- determined overhead rate of 210% of (2.1 times) direct labor cost. Beginning and Ending Inventory Balances were as follows: Beginning Ending Raw Material $50,000 $ 54,500 Work in $ 65,650 $ 71,500 Process Finished Goods $ 63,000 $ 69,300 What was Cost of Goods Sold for 2022? $893,150 $886,850 $905,350 $911,650 Calculator Webcam

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Trinkle Dinkle Co. incurred the following actual costs during 2022:
Direct Material
$387,500
Used
Direct Labor
$165,000
Manufacturing
$365,000
Overhead
The company uses a normal costing system (i.e - applies overhead) and has a pre-
determined overhead rate of 210% of (2.1 times) direct labor cost. Beginning and Ending
Inventory Balances were as follows:
Beginning
Ending
Raw Material $50,000
$ 54,500
Work in
$ 65,650
$ 71,500
Process
Finished
Goods
$ 63,000
$ 69,300
What was Cost of Goods Sold for 2022?
$893,150
$886,850
$905,350
$911,650
Calculator
Webcam
Transcribed Image Text:Trinkle Dinkle Co. incurred the following actual costs during 2022: Direct Material $387,500 Used Direct Labor $165,000 Manufacturing $365,000 Overhead The company uses a normal costing system (i.e - applies overhead) and has a pre- determined overhead rate of 210% of (2.1 times) direct labor cost. Beginning and Ending Inventory Balances were as follows: Beginning Ending Raw Material $50,000 $ 54,500 Work in $ 65,650 $ 71,500 Process Finished Goods $ 63,000 $ 69,300 What was Cost of Goods Sold for 2022? $893,150 $886,850 $905,350 $911,650 Calculator Webcam
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