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Cost of goods sold budget Prepare a cost of goods sold budget for Magnolia Candle Inc. using the information in Practice Exercises 22-3B and 22-4B. Assume that the estimated inventories on January 1, 20Y4, for finished goods and work in process were $9,800 and $3,600, respectively. Also assume that the desired inventories on December 31, 20Y4, for finished goods and work in process were $12,900 and $3,500, respectively. Factory overhead was budgeted at $109,600.

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Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094
BuyFind

Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094

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Chapter
Section
Chapter 22, Problem 22.5BPE
Textbook Problem

Cost of goods sold budget

Prepare a cost of goods sold budget for Magnolia Candle Inc. using the information in Practice Exercises 22-3B and 22-4B. Assume that the estimated inventories on January 1, 20Y4, for finished goods and work in process were $9,800 and $3,600, respectively. Also assume that the desired inventories on December 31, 20Y4, for finished goods and work in process were $12,900 and $3,500, respectively. Factory overhead was budgeted at $109,600.

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Chapter 22 Solutions

Accounting
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