Answer: $1,912,000
Explanation
Cost of goods sold = Beginning Finished Goods + Cost of goods manufactured - Ending Finished Goods
= 100,000 + 1,904,000 - 92,000
= $ 1,912,000
Question 8 Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020...
Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $310000 $260000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000 During 2020, $720000 of raw materials were purchased, direct labor costs amounted to $751500, and manufacturing overhead incurred was $768000. If Concord Corporation's cost of goods manufactured for 2020 amounted to $2049500, its cost of goods sold for the year is $2009500. $1909500. $2089500. $2159500.
Concord Corporation's accounting records reflect the following inventories: Dec. 31. 2017 Dec. 31 2016 $380000 $330000 Raw materials inventory Work in process inventory Finished goods inventory 300000 160000 190000 150000 During 2017, $880000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Concord Corporation's total manufacturing costs incurred in 2017 amounted to $2190000 $2000000 $2140000 $2100000 Sweater Attempts of lused Submit Answer 3
Question 7 Vaughn Manufacturing reported the following year-end information: $1080000 300000 900000 Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead 480000 9200000 820000 790000 Vaughn Manufacturing's cost of goods manufactured for the year is 0 $10450000. O $10990000. O $10810000. 0 $10630000. Question 8 Concord Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec....
Which of the following is not an element of manufacturing overhead? o Factory repairman's wages. Plant manager's salary. Sales manager's salary. O Product inspector's salary. Marigold Corp. reported the following year-end information: $1080000 300000 Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead 900000 480000 1020000 820000 820000 Marigold Corp.'s cost of goods manufactured for the year is $2480000. O $2840000. $2660000. O $2300000....
Waterway Industries's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 $340000 $280000 Raw materials inventory Work in process inventory Finished goods inventory 300000 160000 190000 150000 During 2020, $830000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. Waterway Industries's total manufacturing costs incurred in 2020 amounted to Next O $2080000. O $2140000. O $1940000. $2040000.
Sunland Company's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 $310000 $260000 Raw materials inventory Work in process inventory Finished goods inventory 300000 160000 190000 150000 During 2020, $620000 of raw materials were purchased, direct labor costs amounted to $567800, and manufacturing overhead incurred was $480000. If Sunland Company's cost of goods manufactured for 2020 amounted to $1477800, its cost of goods sold for the year is $1587800. $1517800. $1337800. $1437800.
Crane Company's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $210000 $160000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000 During 2020, $700000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. The total raw materials available for use during 2020 for Crane Company is $910000. $650000. $860000. $560000.
Bonita Industries's accounting records reflect the following inventories: Dec 31, 2020 Dec 31, 2019 Raw materials $260000 inventory $210000 Work in process 300000 160000 inventory Finished goods 190000 150000 inventory During 2020. $750000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000 Bonita Industries's total manufacturing costs incurred in 2020 amounted to $2010000 O $1870000 $1970000. $2060000 Current Attempt in Progress Waterway Industries reported the following year-end information: $1080000 Beginning work in...
Barry's BarBQue incurred the following costs: $1,400 for ribs, 45 hours of labor to cook the ribs at $10 per hour, $50 for seasoning and sauce, $300 for signs to advertise the ribs, $150 to clean the grill after cooking the ribs, and $100 of administrative costs. How much are total product costs? $1,850 O $2,350 O $2,150 $2,050 We were unable to transcribe this imageModel Magic Manufacturing reported the following year-end balances: Beginning work in process inventory, $35,000; beginning...
Sheffield Corp.'s accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 $290000 $240000 Raw materials inventory Work in process inventory Finished goods inventory 300000 160000 190000 150000 During 2020. $800000 of raw materials were purchased, direct labor costs amoun incurred was $640000. Sheffield Corp.'s total manufacturing costs incurred in 2020 amounted to $1920000. $2060000. $2110000 $2020000 Save for Later