XYZ Manufacturing has the following selected information available for the year. Direct material purchased $ 40,000 Direct material used 45,000 Direct labor incurred 75,000 Manufacturing overhead incurred 50,000 Cost of goods manufactured 100,000 In addition, the cost of the finished goods inventory increased by $10,000 from the beginning to the end of the year. Compute for the Cost of goods sold for the year.
XYZ Manufacturing has the following selected information available for the year. Direct material purchased $ 40,000 Direct material used 45,000 Direct labor incurred 75,000 Manufacturing overhead incurred 50,000 Cost of goods manufactured 100,000 In addition, the cost of the finished goods inventory increased by $10,000 from the beginning to the end of the year. Compute for the Cost of goods sold for the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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XYZ Manufacturing has the following selected information available for the year.
Direct material purchased $ 40,000
Direct material used 45,000
Direct labor incurred 75,000
Manufacturing
Cost of goods manufactured 100,000
In addition, the cost of the finished goods inventory increased by $10,000 from the beginning to the end of the year.
Compute for the Cost of goods sold for the year.
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