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Author Question: The following amounts were taken from the general ledger of the Excellent Manufacturing Company. ... (Read 197 times)

yoooooman

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The following amounts were taken from the general ledger of the Excellent Manufacturing Company. Compute the cost of goods manufactured and the cost of goods sold for the company for the year.

Raw materials inventory - beg. of year$50,000Depreciation - plant & equipment$26,000
Raw materials inventory - end of year 56,000Repairs and maintenance - plant  8,000
Work in process inv. - beg. of year100,000Insurance on plant18,000
Work in process inv. - end of year70,000General and administration exp.25,000
Finished goods inv. - beg. of year36,000Indirect labour30,000
Finished goods inv. - end of year50,000Direct labour164,000
Purchase of direct materials30,000Marketing expenses40,000


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Marked as best answer by yoooooman on Jan 4, 2020

ndhahbi

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