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Question Completion Status: QUESTION 6 The Sun and Moon Corporation reported the following account balances as of December 31
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Answer #1
The Sun and Moon Corporation
Schedule of Cost of Goods Manufactured
Raw materials inventory , beginning 7,000
Add:Raw materials purchases 60,000
Raw Material available for use 67,000
Less:Ending raw material inventory -15,000
Raw material used 52,000
Direct labor 50,000
Manufacturing Overheads:
Depreciation - Factory equipment 3,000
Indirect labor 25,000
Factory supplies used 1,000
Factory-rent 2,000
Total Manufacturing Overheads 31,000
Total Manufacturing Cost 133,000
Add :Work in process inventory, beginning 15,000
Less: Work in process inventory, ending -26,000
Cost of goods manufactured $122,000

The cost of goods manufactured = $122,000

Third option is correct.

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