Q.2.Allure Company produces women’s clothing. During 2004, the company incurred the following costs: Factory rent 265,000 Direct labor 325,000 Utilities-Factory 88,000 Purchases of direct materials 465,000 Indirect materials 70,000 Indirect labors 35,000 Inventories for the year were as follows: January 1 December 31 Direct materials 90,000 50,000 Work in process 40,000 85,000 Finished goods 115,000 95,000 Required1. Prepare a statement of cost of goods manufactured; and2. Calculate cost of goods sold?

Q.2.Allure Company produces women’s clothing. During 2004, the company incurred the following costs: Factory rent 265,000 Direct labor 325,000 Utilities-Factory 88,000 Purchases of direct materials...

Q.2.Allure Company produces women’s clothing. During 2004, the company incurred the following costs:

Factory rent	265,000
Direct labor	325,000
Utilities-Factory	88,000
Purchases of direct materials	465,000
Indirect materials	70,000
Indirect labors	35,000

Inventories for the year were as follows:

Required

1. Prepare a statement of cost of goods manufactured; and

2. Calculate cost of goods sold?

Jun 03, 2022