ABC Corporation reported the following data for the month of January: Inventories: Beginning Ending Raw materials 46,000 34,000 Work in process 31,000 29,000 Finished goods 27,000 55,000 Additional information: Raw materials purchases 79,000 Direct labor cost 93,000 Manufacturing overhead cost incurred 54,000 Indirect materials included in manufacturing overhead cost incurred 8,000 Manufacturing overhead cost applied to Work in Process 57,000 Calculate cost of goods sold during the month of January?
ABC Corporation reported the following data for the month of January: Inventories: Beginning Ending Raw materials 46,000 34,000 Work in process 31,000 29,000 Finished goods 27,000 55,000 Additional information: Raw materials purchases 79,000 Direct labor cost 93,000 Manufacturing overhead cost incurred 54,000 Indirect materials included in manufacturing overhead cost incurred 8,000 Manufacturing overhead cost applied to Work in Process 57,000 Calculate cost of goods sold during the month of January?
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 5E: Recording materials transactions Prepare a journal entry to record each of the following materials...
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Question 7
ABC Corporation reported the following data for the month of January:
Inventories: |
Beginning |
Ending |
Raw materials |
46,000 |
34,000 |
Work in process |
31,000 |
29,000 |
Finished goods |
27,000 |
55,000 |
|
|
|
Additional information: |
|
|
Raw materials purchases |
79,000 |
|
Direct labor cost |
93,000 |
|
Manufacturing overhead cost incurred |
54,000 |
|
Indirect materials included in manufacturing overhead cost incurred |
8,000 |
|
Manufacturing overhead cost applied to Work in Process |
57,000 |
|
Calculate cost of goods sold during the month of January?
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