Century 21 Accounting General Journal Working Papers
11th Edition
ISBN: 9781337623247
Author: Gilbertson, Claudia Bienias.
Publisher: Cengage Learning,
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What is the total contribution margin ?
Griffin Manufacturing reported an unadjusted cost of goods sold (COGS) of $105,000 for the year 20X2. During the year, the company experienced several variances, including a $6,000 unfavorable direct labor efficiency variance, a $2,500 favorable direct labor rate variance, a $5,500 unfavorable direct materials price variance, and a $4,000 unfavorable direct materials usage variance. There were no overhead variances reported. Based on this information, what is Griffin Manufacturing’s adjusted cost of goods sold for 20X2?
Please explain the solution to this general accounting problem using the correct accounting principles.
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