Using the amounts show below in the Schedule of Cost of Goods Manufactured and Partial Cost of Goods Sold Schedule. Calculate the Gross Profit amount if Sales were $3,300,000. Schedule of Cost of Goods Manufactured Op Balance Direct Materials Purchases Materials available for use Less: Closing balance Direct Materials used in Production OP Balance WIP Conversion costs: Total cost of manufacturing Less: CB WIP Cost of Goods Manufactured Other information: Opening Balance Finished Goods Closing Balance Finished Goods Select one: O a. $1,740,000 O b. $900,000 c. $440,000 d. $1,320,000 $420,000 $800,000 $1,220,000 $380,000 $840,000 $860,000 $1,200,000 $2,900,000 $920,000 $1,980,000 $650,000 $230,000

Using the amounts show below in the Schedule of Cost of Goods Manufactured and Partial Cost of Goods Sold Schedule. Calculate the Gross Profit amount if Sales were $3,300,000. Schedule of Cost of Goods Manufactured Op Balance Direct Materials Purchases Materials available for use Less: Closing balance Direct Materials used in Production OP Balance WIP Conversion costs: Total cost of manufacturing Less: CB WIP Cost of Goods Manufactured Other information: Opening Balance Finished Goods Closing Balance Finished Goods Select one: O a. $1,740,000 O b. $900,000 c. $440,000 d. $1,320,000 $420,000 $800,000 $1,220,000 $380,000 $840,000 $860,000 $1,200,000 $2,900,000 $920,000 $1,980,000 $650,000 $230,000

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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