Reference no: EM133154085
Question - Robina Manufacturing Company has develop the following information for the year ended December 31, 2020.
Raw Materials Inventory, January 1 175,000
Purchases 250,000
Raw Materials Inventory, December 31 125,000
Direct Labor 270,000
Factory Overhead (120% of direct labor cost)
Work in process Inventory, January 1 90,000
Work in process Inventory, December 31 120,000
Finished Goods Inventory, January 1 100,000
Finished Goods Inventory, December 31 80,000
Required - Prepare the Cost of Goods sold statement in good form.