Question

Need all steps in calculation please.

con c ords of a $990 570 8. The following data (in thousands of dollars) have been taken from the Corporation for the just completed year Sales Raw materials inventory, beginning Raw materials inventory, ending Purchases of raw materials Direct labor Manufacturing overhead Administrative expenses Selling expenses Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Le cost of goods sold for the year in thousands of dollars) was: 5200 $160 $180 $150 S40 570 $150 $130 A $490 TC = TVCTTFC B) $450 C) $620 D) $600 coas . Beg hest coom - eady FG = cous

Answer 1

Direct materials costs:
Beginning inventory	$       70.00
Purchases of direct material	$     100.00
Raw materials available for use	$     170.00
Ending inventory, Dec. 31, 2011	$     (30.00)
Direct materials used		$        140.00
Direct manufacturing labor cost		$        200.00
Manufacturing  overhead		$        160.00
Manufacturing costs incurred		$        500.00
Add beginning work-in-process inventory		$          40.00
Total manufacturing costs to account for		$        540.00
Deduct ending work-in-process		$        (70.00)
Cost of goods manufactured		$        470.00
Beginning Inventory of Finished Goods	$     150.00
Add: Cost of Goods Manufactured (calculated above)	$     470.00
Equals: Finished Goods Available for Sale	$     620.00
Subtract: Ending Inventory of Finished Goods	$   (130.00)
Equals: Cost of Goods Sold	$     490.00