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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