Metalcore Ltd is a metal and woodcutting manufacturer, selling products to the home construction market. Consider the following data for the year ended 31 December 2021. Sales revenues $95,000 Administrative expenses $3,500 Beginning work in process inventory $5,400 Indirect labour $6,300 Plant depreciation $3,500 Ending work in process invent
Metalcore Ltd is a metal and woodcutting manufacturer, selling products to the home construction market. Consider the following data for the year ended 31 December 2021. Sales revenues $95,000 Administrative expenses $3,500 Beginning work in process inventory $5,400 Indirect labour $6,300 Plant depreciation $3,500 Ending work in process invent
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Metalcore Ltd is a metal and woodcutting manufacturer, selling products to the home construction market. Consider the following data for the year ended 31 December 2021.
Sales revenues $95,000
Administrative expenses $3,500
Beginning work in process inventory $5,400
Indirect labour $6,300
Plant
Ending work in process inventory $6,608
Direct material issues $9,000
Ending finished goods inventory $5,400
Plant insurance $3,800
Direct material purchases $9,200
Direct labour $16,270
Beginning finished goods inventory $6,760
Other Manufacturing
Material handling costs $5,400
Required: Prepare a statement of the cost of goods sold for Metalcore Ltd for the year ended 31 December 2021.
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