Business, 12.02.2021 01:50 kyrarix

had the following inventory balances at the beginning and end of the year: January 1 December 31 Raw material $50,000 $35,000 Work in process 130,000 170,000 Finished goods 280,000 255,000 During the year, the company purchased $100,000 of raw material and incurred $340,000 of direct labor costs. Other data: manufacturing overhead incurred, $450,000; sales, $1,560,000; selling and administrative expenses, $90,000; income tax rate, 30%. Required: A. Calculate cost of goods manufactured. B. Calculate cost of goods sold. C. Determine net income.

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had the following inventory balances at the beginning and end of the year: January 1 December 31 Raw...

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