Prepare a cost of goods sold budget for Dream, Inc. they manufacture comforters. Assume the estimated inventories on January 1, 2008, for finished goods, work in process, and material were $51,000, $28,000, and $33,000 respectively. Also assume the desired inventories on December 31, 2008 for finished goods, work in process, and materials were $48,000, $35,000, and $29,000 respectively. Direct material purchases were $555,000. Direct labor was $252,000 for the year. Factory overhead was $176,000
Prepare a cost of goods sold budget for Dream, Inc. they manufacture comforters. Assume the estimated inventories on January 1, 2008, for finished goods, work in process, and material were $51,000, $28,000, and $33,000 respectively. Also assume the desired inventories on December 31, 2008 for finished goods, work in process, and materials were $48,000, $35,000, and $29,000 respectively. Direct material purchases were $555,000. Direct labor was $252,000 for the year. Factory overhead was $176,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 5BE
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Prepare a cost of goods sold budget for Dream, Inc. they manufacture comforters. Assume the estimated inventories on January 1, 2008, for finished goods, work in process, and material were $51,000, $28,000, and $33,000 respectively. Also assume the desired inventories on December 31, 2008 for finished goods, work in process, and materials were $48,000, $35,000, and $29,000 respectively. Direct material purchases were $555,000. Direct labor was $252,000 for the year. Factory overhead was $176,000
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