Question

Help Save Adams Manufacturing Company began operations on January 1. During the year, it started and completed 1690 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: 1. Raw materials purchased and used $3,180. 2. Wages of production workers-$3,530. 3. Salaries of administrative and sales personnel -$1.960. 4. Depreciation on manufacturing equipment-$4,613 5. Depreciation on administrative equipment-$1,795. Adams sold 1,090 units of product. Required a. Determine the total product cost for the year. b. Determine the total cost of the ending inventory. (Do not round intermediate calculations.) c. Determine the total of cost of goods sold. (Do not round intermediate calculations.) KEEN Keen FC Keen S Google cbbgco $ 11.323 a b Total product cost Total cost of ending inventory Total cost of goods sold c < Prev 3 of 5 Next >

Answer 1

Az a} Total Product Cost for the year = Rau matodale purchased and used + Wases of production duonkers + Sepriciation on iskunlacturing equipment $ 3,180 + $ 3.530 + $4,613 $ 11,323 by Total Cost of Ending Teuventory Cost of Twentory Pex Unit = $1,323 = 1,690 = $ 6.7 Ending Twentory in units = 1,6901 - 1,090 of Ending Inventory = $67x6courite $4,020 7 Total Cast of Goods Sold mits Therefore, Cast $ 6.7 x 10.90 $7,303