Solution-Prepare a statement of cost of goods manufactured

Prepare a statement of cost of goods manufactured

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Reference no: EM133117785

Question - Statement of Cost of Goods Manufactured from Percent Relationships - Information about Blue Line Products Company for the year ending December 31 follows:

Sales equal $580,000.

Direct materials used total $105,000.

Manufacturing overhead is 200% of direct labor dollars.

The beginning inventory of finished goods is 25% of the cost of goods sold.

The ending inventory of finished goods is 1.5 times beginning inventory.

The gross profit is 20% of sales.

There is no beginning or ending work-in-process.

Required - Prepare a statement of cost of goods manufactured for the year. (Hint: Prepare an analysis of changes in Finished Goods Inventory.)

Reference no: EM133117785

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Prepare a statement of cost of goods manufactured

Reference no: EM133117785

Reference no: EM133117785

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