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Develop a cost of goods manufactured schedule

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The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year.

Sales $800

Raw materials inventory, beginning $60

Raw materials inventory, ending $70

Purchases of raw materials $180

Direct labour $100 Manufacturing overhead $190

Administrative expenses $110

Selling expenses $150

Work-in-process inventory, beginning $70

Work-in-process inventory, ending $80

Finished goods inventory, beginning $120

Finished goods inventory, ending $160

Problem A. Based on the information provided above develop a cost of goods manufactured schedule.

Problem B. What was the cost of goods sold (in thousands of dollars) for the year?

Reference no: EM132684651

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