Solution-Compute cost of goods manufactured

Compute cost of goods manufactured

Assignment Help Financial Accounting

Reference no: EM13521250

The following information is available for Aikman Company.

	1-Jan-12	2012	31-Dec-12
Raw materials inventory	$21,000		$30,000
Work in process inventory	13,500		17,200
Finished goods inventory	27,000		21,000
Materials purchased		$150,000
Direct labor		220,000
Manufacturing overhead		180,000
Sales		910,000

Instructions

(a) Compute cost of goods manufactured.

(b) Prepare an income statement through gross profit.

(d) How would the income statement and balance sheet of a merchandising company be different from Aikman"s financial statements?

Reference no: EM13521250

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Compute cost of goods manufactured

Reference no: EM13521250

Reference no: EM13521250

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