Beginning raw materials 43raw materials purchases 29raw

Reference no: EM13376820

Beginning raw materials = $43

Raw materials purchases = $29

Raw materials stolen = $17. [Assume that the cost of raw materials stolen is not included in COGS but is shown as a separate line item on the income statement.]

Raw materials ending = $22

Beginning work-in-process = $50

Direct labor = $31

Overhead allocated to products = $24

Ending work-in-process = $10

Beginning finished goods inventory = $21

Ending finished goods inventory = $5

Salesperson salaries = $97

Advertising paid for this and the next year = $26. [Assume that advertising is equally allocated to the two years.]

Revenue = $199

What is:Cost of raw material issued to WIP, Cost of Goods Manufactured, Cost of Goods Sold and Net Income

Reference no: EM13376820

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