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    Cost of Goods Sold

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    Cost of goods sold manufactured and sold

    The following information pertains to Bluegrass Manufacturing Company for March 2003. Assume actual overhead equaled applied overhead. March 1 Inventory Balances Raw Materials 95,000 Work in Process 120,000 Finished Goods

    Costs of Goods Sold, Inventory and Insurance Company

    Discuss: - What items make up cost of goods sold? - Why is calculating the cost of goods sold important? - How does beginning and ending inventory affect cost of goods sold? - How does an insurance company calculate cost of goods sold?

    Cost of Goods manufactured

    I'm not sure how to get the cost of goods manufactured without having data like rent, utilites and so on... There is a formula but I don't think I'm using the correct numbers. Thanks for your help! AMFAC COMPANY Cost of Goods Manufactured (3) Units Direct materials cost Direct labor cost Manufacturing overhead

    Larkin Corporation

    The following data (in thousands of dollars) have been taken from accounting records of Larkin Corporation for the just completed year. Sales................................................820.00 Purchase of raw materials........................180.00 Direct labor..........................................130.00 Manufactu

    Cost of goods manufactured, cost of goods sold

    Champs, Inc incurred the following costs during March: Selling Expenses $31,675 Direct Labor $56,628 Interest Expense 8,213 Manufacturing overhead, actual 40,950 Raw Materials, used 92,196 Administrative expenses

    Cost of Goods Sold Problem

    My company's beginning Finished Goods Inventory was $10,000 and the ending Finished Goods Inventory was $20,000. Raw Materials used in production totaled $5,000. The Cost of Goods Manufactured was $60,000. What was the Cost of Goods Sold?

    Cost of Goods Sold in a Merchandising Company

    My business is a merchandising company. Last month the company's merchandise purchases totaled $86,000. The company's beginning merchandise inventory was $15,000 and its ending merchandise inventory was $11,000. What was the company's cost of goods sold for the month?

    Review Questions

    1. Craft Manufacturing Company's accounting records reflect the following inventories: Dec. 31, 2002 Dec. 31, 2001 Raw materials inventory $310,000 $260,000 Work in process inventory 300,000 160,000 Finished goods inventory 190,000 150,000 During 2002, $500,000 of raw materials were purchased, direct labor costs a

    Cost of Goods Manufactured Schedule - Corrales Manufacturing

    At May 31, 2002, the accounts of Corrales Manufacturing Company show the following. 1. May 1 inventories-finished goods $12,600, work in process $14,700, and raw materials $8,200. 2. May 31 inventories-finished goods $10,500, work in process $17,900, and raw materials $7,100. 3. Debit postings to work in process were: d

    The Cost of Goods Purchased

    For the current year, the following data were taken from the accounting records: Sales, $900,000; Sales Returns and Allowances, $30,000; Purchases, $500,000; Purchase Returns and Allowances, $8,000; Discount received, $4,000; Freight-in, $2,000; Beginning Inventory, $90,000; Ending Inventory, $130,000. What was the cost of goods

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