Solution-Compute cost of goods manufactured and cost of

Compute cost of goods manufactured and cost of goods sold

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Reference no: EM13487452

Compute the cost of goods manufactured and cost of goods sold for Strike Marine Company for the most recent year using the amounts described below. Assume that raw materials inventory contains only direct materials.

	Beginning of Year	End of Year		End of Year
Raw materials inventory	$25,000	$28,000	Insurance on plant	$ 9,000
Work in process inventory	50,000	35,000	Depreciation-plant building and equipment	13,000
Finished goods inventory	18,000	25,000	Repairs and maintenance plant	4,000
Purchase of direct materials		78,000	Marketing expenses	77,000
Direct Labor		82,000	General and administrative expenses	29,000
Indirect labor		15,000

Reference no: EM13487452

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Compute cost of goods manufactured and cost of goods sold

Reference no: EM13487452

Reference no: EM13487452

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