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beginning and end of 2020 follows: for the firm's inventory accounts a Account Direct materials Work in process Finished goods Beg. Balance $121,500 458,900 845,300 End. Balance $139,700 998,400 239,500 Other information from 2020 for the firm includes: Sales salaries Purchases of direct materials $156,300 192,400 84,300 243,500 44,700 91,500 1,548,200 Rent Direct labour Depreciation on corporate jet Depreciation on factory machines Sales Insurance on corporate jet Indirect labour 34,800 54,300 Fire insurance on factory building Insurance on finished goods warehouse 12,500 18,400

beginning and end of 2020 follows: for the firm's inventory accounts a Account Direct materials Work in process Finished goods Beg. Balance $121,500 458,900 845,300 End. Balance $139,700 998,400 239,500 Other information from 2020 for the firm includes: Sales salaries Purchases of direct materials $156,300 192,400 84,300 243,500 44,700 91,500 1,548,200 Rent Direct labour Depreciation on corporate jet Depreciation on factory machines Sales Insurance on corporate jet Indirect labour 34,800 54,300 Fire insurance on factory building Insurance on finished goods warehouse 12,500 18,400

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...
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Compute the cost of goods manufactured, using a formal schedule of cost of goods manufactured.

formation for the firm's inventory accounts at the beginning and end of 2020 follows: Account Direct materials Work in process Finished goods Beg. Balance $121,500 458,900 845,300 End. Balance $139,700 998,400 239,500 Other information from 2020 for the firm Includes: Sales salaries Purchases of direct materials Rent Direct labour Depreciation on corporate jet Depreciation on factory machines Sales $156,300 192,400 84,300 243,500 44,700 91,500 1,548,200 34,800 54,300 12,500 18,400 Insurance on corporate jet Indirect labour Fire insurance on factory building Insurance on linished goods warehouse
Transcribed Image Text:formation for the firm's inventory accounts at the beginning and end of 2020 follows: Account Direct materials Work in process Finished goods Beg. Balance $121,500 458,900 845,300 End. Balance $139,700 998,400 239,500 Other information from 2020 for the firm Includes: Sales salaries Purchases of direct materials Rent Direct labour Depreciation on corporate jet Depreciation on factory machines Sales $156,300 192,400 84,300 243,500 44,700 91,500 1,548,200 34,800 54,300 12,500 18,400 Insurance on corporate jet Indirect labour Fire insurance on factory building Insurance on linished goods warehouse
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