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Business, 20.09.2020 15:01 bcook0202

Industries is calculating its Cost of Goods Manufactured at year-end. Sharpland's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $13,000 and an ending balance of $15,000. During the year, the company purchased $51,000 of direct materials. Direct labor for the year totaled $131,000, while manufacturing overhead amounted to $153,000. The Work in Process Inventory account had a beginning balance of $24,000 and an ending balance of $23,000. Assume that Raw Materials Inventory contains only direct materials.

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Compute the Cost of Goods Manufactured for the year.

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Industries is calculating its Cost of Goods Manufactured at year-end. Sharpland's accounting records...
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