A manufacturing company has the following information in the accounting records for the month of October: Direct labour $25,000 Purchases of raw materials $73,000 Factory insurance $9,600 Advertising $9,000 Factory property taxes $7,500 Sales commissions $4,600 Work in process inventory, Oct 1 $10,700 Work in process inventory, Oct 31 $12,000 Materials inventory, Oct 1 $5,200 Materials inventory, Oct 31 $7,900 Finished goods inventory, Oct 1 $20,000 Finished goods inventory, Oct 31 $16,700. c. What was the cost of goods manufactured in October? d. What was the cost of goods sold for October?
A manufacturing company has the following information in the accounting records for the month of October: Direct labour $25,000 Purchases of raw materials $73,000 Factory insurance $9,600 Advertising $9,000 Factory property taxes $7,500 Sales commissions $4,600 Work in process inventory, Oct 1 $10,700 Work in process inventory, Oct 31 $12,000 Materials inventory, Oct 1 $5,200 Materials inventory, Oct 31 $7,900 Finished goods inventory, Oct 1 $20,000 Finished goods inventory, Oct 31 $16,700. c. What was the cost of goods manufactured in October? d. What was the cost of goods sold for October?
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...
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