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The following data from the just completed year are taken from the accounting records of Floral Company: Sales 3,000,000 Direct labor cost 550,000 Raw material purchases 1,500,000 Selling expenses 320,000 Administrative expenses 235,000 Manufacturing overhead 220,000. Beginning of Year Inventories 53,000 End of Year Raw materials 35,000 Work in process, beg 85,000 Work in process, end 58,000 Finished goods, beg 158,000 Finished goods, end 185,000   Required: Prepare a schedule of cost of goods sold.

The following data from the just completed year are taken from the accounting records of Floral Company: Sales 3,000,000 Direct labor cost 550,000 Raw material purchases 1,500,000 Selling expenses 320,000 Administrative expenses 235,000 Manufacturing overhead 220,000. Beginning of Year Inventories 53,000 End of Year Raw materials 35,000 Work in process, beg 85,000 Work in process, end 58,000 Finished goods, beg 158,000 Finished goods, end 185,000   Required: Prepare a schedule of cost of goods sold.

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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The following data from the just completed year are taken from the accounting records of Floral Company: Sales 3,000,000 Direct labor cost 550,000 Raw material purchases 1,500,000 Selling expenses 320,000 Administrative expenses 235,000 Manufacturing overhead 220,000.

Beginning of Year Inventories 53,000
End of Year Raw materials 35,000
Work in process, beg 85,000
Work in process, end 58,000
Finished goods, beg 158,000
Finished goods, end 185,000

 

Required:

Prepare a schedule of cost of goods sold.

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