Homework Answers
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Total product cost = 3200+3530+5388 = 12,118 |
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Ending inventory = Units produced - Units sold = 1660-1150 = 510 = (12118/1660)*510 = 3723 |
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Cost of Goods Sold = (12118/1660)*1150 = 8395 |
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Exercise 10-8 Allocating product costs between ending inventory and cost of goods sold LO 10-3 Vernon...
Exercise 10-8 Allocating product costs between ending inventory and cost of goods sold LO 10-3 Solomon...
Exercise 10-8 Allocating product costs between ending inventory and cost of goods sold LO 10-3 Solomon Manufacturing Company began operations on January 1. During the year, it started and completed 1660 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used-$3.540 2. Wages of production workers-$3,600. 3. Salaries of administrative and sales personnel - $1,895. 4. Depreciation on manufacturing equipment-$5,212 5. Depreciation on administrative equipment-$1765. Solomon...
Exercise 10-8 Allocating product costs between ending inventory and cost of goods sold LO 10-3 Zachary...
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Chec 3 Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold...
Chec 3 Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 1-3 3 points Stuart Manufacturing Company began operations on January 1. During the year, it started and completed 1720 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: Skipped eBook 1. Raw materials purchased and used --$3,080. 2. Wages of production workers-$3.490. 3. Salaries of administrative and sales personnel -$1,960 4. Depreciation on manufacturing...
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ing Company began operations on January 1. During the year, it started and completed 1,660 units...
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Exercise 1-6A (Algo) Identifying product versus SG&A costs LO 1-2, 1-3 A review of the accounting...
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ing Company began operations on January 1. During the year, it started and completed 1,660 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs 1. Raw materials purchased and used-$3,090 2 Wages of production workers $3,470. 3. Salaries of administrative and sales personnel $1,910 4. Depreciation on manufacturing 5. Depreciation on administrative equipment-$1,785 Benson sold 1,030 units of product. Required a. Determine the total product cost for the year Determine the...
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