Practice: The following data are taken from the accounting records of Gregory Mfg. Co.: 2019 2018 Ending inventories: Materials $ 100,000 $80,000 Work in Process $64,000 $56,000 Finished Goods $140,000 $170,000 Manufacturing goods: Direct materials used $657,000 Direct labor costs charged to production $270,000 Manufacturing Overhead $378,000 Show All Calculations: Outline a schedule of cost of goods manufactured for 2019 in good form The company generally prices products adding 20% to the cost of goods sold. Determine the total revenue the company would have generated in 2019.
Practice: The following data are taken from the accounting records of Gregory Mfg. Co.: 2019 2018 Ending inventories: Materials $ 100,000 $80,000 Work in Process $64,000 $56,000 Finished Goods $140,000 $170,000 Manufacturing goods: Direct materials used $657,000 Direct labor costs charged to production $270,000 Manufacturing Overhead $378,000 Show All Calculations: Outline a schedule of cost of goods manufactured for 2019 in good form The company generally prices products adding 20% to the cost of goods sold. Determine the total revenue the company would have generated in 2019.
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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Practice:
The following data are taken from the accounting records of Gregory Mfg. Co.:
|
|
2019 |
2018 |
|
Ending inventories: |
|
|
|
Materials |
$ 100,000 |
$80,000 |
|
Work in Process |
$64,000 |
$56,000 |
|
Finished Goods |
$140,000 |
$170,000 |
|
Manufacturing goods: |
|
|
|
Direct materials used |
$657,000 |
|
|
Direct labor costs charged to production |
$270,000 |
|
|
Manufacturing Overhead |
$378,000 |
|
Show All Calculations:
- Outline a schedule of cost of goods manufactured for 2019 in good form
- The company generally prices products adding 20% to the cost of goods sold. Determine the total revenue the company would have generated in 2019.
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