Cost of Goods Sold, Cost of Goods Manufactured Sandbagger Company has the following information for March: Cost of direct materials used in production $ 37,000 Direct labor 42,000 28,000 28,000 31,000 27,000 19,000 Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 a. For March, determine the cost of goods manufactured. $ b. For March, determine the cost of goods sold. 69

Cost of Goods Sold, Cost of Goods Manufactured Sandbagger Company has the following information for March: Cost of direct materials used in production $ 37,000 Direct labor 42,000 28,000 28,000 31,000 27,000 19,000 Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 a. For March, determine the cost of goods manufactured. $ b. For March, determine the cost of goods sold. 69

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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