1. The following information was taken from the books of BN Co. there was no work in process at the beginning or end of the year. The cost of goods sold for the year is? And the cost of goods manufactured for the year is?
Cost of goods sold =
Cost of goods manufactured =
Increase in raw materials inventory
30000
Increase in finished goods inventory
70000
Raw materials purchased
860000
Direct labor payroll
400000
Factory overhead
600000
2. The total manufacturing cost is 150000, the direct labor is 50000, and the direct materials consumed is 60000. There is no beginning and ending work in process. The cost of goods manufactured is?
3. ME Manufacturing had no beginning inventories. During the period, its completed production was 50000 units of which 10% was unsold. There were no ending inventories of materials or work in process. Materials purchased and used were 215000, direct labor and manufacturing overhead were 160000. The ending inventory and cost of goods manufactured is?
Ending inventory =
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