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What is cost of raw material issued to wip

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Reference no: EM13489159

Beginning raw materials = $43
Raw materials purchases = $29
Raw materials stolen = $17. [Assume that the cost of raw materials stolen is not included in COGS but is shown as a separate line item on the income statement.]
Raw materials ending = $22

Beginning work-in-process = $50
Direct labor = $31
Overhead allocated to products = $24
Ending work-in-process = $10

Beginning finished goods inventory = $21
Ending finished goods inventory = $5

Salesperson salaries = $97
Advertising paid for this and the next year = $26. [Assume that advertising is equally allocated to the two years.]

Revenue = $199

What is Cost of raw material issued to WIP, Cost of Goods Manufactured, Cost of Goods Sold and Net Income.

 

Reference no: EM13489159

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