ncrease in raw materials inventory Decrease in goods in process inventory Decrease in finished goods inventory Raw materials purchased Direct labor payroll Factory overhead Freight out Freight in 150,000 200,000 350,000 4,300,000 2,000,000 3,000,000 450,000 250,000

ncrease in raw materials inventory Decrease in goods in process inventory Decrease in finished goods inventory Raw materials purchased Direct labor payroll Factory overhead Freight out Freight in 150,000 200,000 350,000 4,300,000 2,000,000 3,000,000 450,000 250,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Question

What amount should be reported as cost of goods sold for the current year?

a. 9,950,000

b. 9,550,000

c. 9,250,000

d. 9,150,000

SWEET TOOTH Company provided the following information for the current year:
Increase in raw materials inventory
Decrease in goods in process inventory
Decrease in finished goods inventory
150,000
200,000
350,000
Raw materials purchased
Direct labor payroll
4,300,000
2,000,000
Factory overhead
Freight out
Freight in
3,000,000
450,000
250,000

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