Solution-Find the FY Cost of Goods Sold

Find the FY Cost of Goods Sold

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Reference no: EM132697724

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a) Towson Manufacturing had a Work in Process balance of $94,000 on January 1, 2018. The year end balance of Work in Process was $120,000 and the Cost of Goods Manufactured was $745,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018.

b) During FY 2018, Towson Manufacturing had a beginning finished goods inventory of $18,000 & ending finished goods inventory of $15,500. Beginning work-in-process was $12,000 and ending work-in-process was 20,500. Factory overhead was $22,500. The total manufacturing costs amounted to $278,000. Use this information to find the FY 2018 Cost of Goods Sold.

Reference no: EM132697724

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Find the FY Cost of Goods Sold

Reference no: EM132697724

Reference no: EM132697724

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