Reference no: EM133184510
Question - Lovely Inc. reported the following data for last year ended December 31, 2022:
Work in process inventory, ending $250
Finished goods inventory, beginning 300
Maintenance, factory 200
Direct labour cost 700
Selling salaries 375
Direct materials cost 800
Work in process inventory, beginning 150
Depreciation, factory 300
Depreciation, sales equipment 95
Finished goods inventory ending 400
Required -
1) Prepare a Schedule of Cost of Goods Manufactured in good form, for last year.
2) Calculate the cost of goods sold.