Use the following inventory data for Caddy Golf Company to compute the cost of goods manufactured for the year: Direct Materials Used Manufacturing Overhead Work-in-Process Inventory: Beginning Balance Ending Balance Direct Labor Finished Goods Inventory: Beginning Balance Ending Balance $ 12,000 21,000 1,000 5,000 9,000 18,000 4,000

Use the following inventory data for Caddy Golf Company to compute the cost of goods manufactured for the year: Direct Materials Used Manufacturing Overhead Work-in-Process Inventory: Beginning Balance Ending Balance Direct Labor Finished Goods Inventory: Beginning Balance Ending Balance $ 12,000 21,000 1,000 5,000 9,000 18,000 4,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: Cost Management & accounting QUESTION – 11**The following data have been extracted from the records of A.B.C. Manufacturing Company:-Inventory Accounts Jan. 1: Inventory Accounts Dec 31:Material Rs. 45,000 Materials Rs. 38,000Work- in- Process 15,000 Work – in – Process 12,000Finished Goods 10,000 Finished Goods 17,000The following transactions took place during the year 1990:Direct Material Purchased Rs. 6,500Indirect Materials Purchased and used 10,000Factory Payroll Rs. 38,000 out of which Rs. 8,000 represented indirect labour. Other factory overhead cost incurred Rs. 25,000. Factory overhead applied to production at the rate of 150% of direct labour cost.Selling expenses Rs. 20,000 Admin Expenses 17,000Financial Management Income 2,000 Financial Management Expense 3,000Sale for the year 236,000 Sales return…
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