Reference no: EM132671470
The following information is available for Collins Company.
January 1, 2020 2020 December 31, 2020
Raw materials inventory $22,000 $30,000
Work in process inventory 20,300 17,200
Finished goods inventory 27,000 29,000
Materials purchased $170,000
Direct labor 200,000
Manufacturing overhead 183,000
Sales revenue 875,000
Instructions
Problem (a) Compute gross profit
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