Exercise 3.2 • Cost of Goods ManufacturedBased on the following information, prepare a cost of goods manufacturedstatement.Material purchases$90,000Factory labor$60,000Manufacturing overheadMaterials inventory (beginning)Materials inventory (ending)Freight-in, MaterialsSelling expensesGeneral and administrative expenses$30,000$25,000$10,000$ 5,000$85,000$30,000Work in process inventory (beginning)Work in process inventory (ending)$15,000$20,000

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Description: Exercise 3.2 • Cost of Goods ManufacturedBased on the following information, prepare a cost of goods manufacturedstatement.Material purchases$90,000Factory labor$60,000Manufacturing overheadMaterials inventory (beginning)Materials inventory (ending)

Material used = Beginning material inventory + material purchases - Ending material inventory Cost…

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Based on the following information, prepare a cost of goods manufactured statement. Material purchases $90,000 Factory labor $60,000 Manufacturing overhead $30,000 Materials inventory (beginning) $25,000 Materials inventory (ending) $10,000 Freight-in, Materials $ 5,000 Selling expenses $85,000 General and administrative expenses $30,000 Work in process inventory (beginning) $15,000 Work in process inventory (ending) $20,000

Based on the following information, prepare a cost of goods manufactured statement. Material purchases $90,000 Factory labor $60,000 Manufacturing overhead $30,000 Materials inventory (beginning) $25,000 Materials inventory (ending) $10,000 Freight-in, Materials $ 5,000 Selling expenses $85,000 General and administrative expenses $30,000 Work in process inventory (beginning) $15,000 Work in process inventory (ending) $20,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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