Question

please do all three parts of this one question

Part One: In 2015, Pamela Webber opened Pamela's Posies, a small retail shop selling floral arrangements. Click the icon to view the records.) Read the requirement (Part One) Part One: Begin by calculating the cost of goods sold for the year. Pamela's Posies Calculation of Cost of Goods Sold For the Year Ended December 31, 2016 Plus: Less: Choose from any list or enter any number in the input fields and then click Check Answer! 8 parts O remaining esc Q se

Answer 1

Part 1)

Pamela's Posies Calculation of cost of goods sold for the year ended December 31,2016
Inventory ,Jan 1 2016	12100
Purchase of merchandise	35500
Inventory available for sale	47600
less:Inventory ,December 31,2016	-9200
cost of goods sold	38400

b)

Pamela's Posies Statement of cost of goods sold
Raw material inventory ,Jan 1 2017	17000
Add:Direct material purchase	40000
Raw material available for use	57000
less:Raw material inventory December 31 2017	(7500)
Raw material used in to production		49500
Direct labor		26000
Manufacturing overhead
Utilities for plant	4400
Plant Janitorial services	1650
Rent on manufacturing plant	8400
Total manufacturing overhead		14450
Total manufacturing cost		89950
Work in process ,Jan 1 2017		0
Total		89950
less:Work in process inventory .Dec 31 2017		(1000)
Cost of goods manufactured		88950
Add:Finished goods inventory,Jan 1 2017		0
Cost of goods available for sale		88950
less:Finished goods inventory ,Dec 31 2017		(3000)
Cost of goods sold		85950

c)

Raw material inventory	7500
Work in process inventory	1000
Finished goods inventory	3000
Total ending inventory	11500