The following information was extracted from the books of Bass Shoe Company, a manufacturer of loafers: Beginning of Year $700,000 End of Year Raw materials inventory Work in process inventory Finished goods inventory Raw materials purchased Direct labour $600,000 1,000,000 900,000 400,000 300,000 2,900,000 13,800,000 4,600,000 Manufacturing overhead Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation method.

The following information was extracted from the books of Bass Shoe Company, a manufacturer of loafers: Beginning of Year $700,000 End of Year Raw materials inventory Work in process inventory Finished goods inventory Raw materials purchased Direct labour $600,000 1,000,000 900,000 400,000 300,000 2,900,000 13,800,000 4,600,000 Manufacturing overhead Calculate Cost of Goods Manufactured & Cost of Goods Sold using the equation method.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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