Description of this paper

I need some help understanding how do do this prob...

Description

Solution


Question

I need some help understanding how do do this problem. When I do it I get none of the possible answers. Holdaway Co., a manufacturer, had inventories at the beginning and end of its current year as follows: Beginning End Raw materials ............................. $11,000 $15,000 Work in process ........................... 20,000 24,000 Finished goods ............................ 12,500 9,000 During the year, the following costs and expenses were incurred: Raw materials purchased ............................... $150,000 Direct labor cost ..................................... 60,000 Indirect factory labor ................................ 30,000 Taxes and depreciation on factory building ............ 10,000 Taxes and depreciation on sales room and office ....... 7,500 Sales salaries ........................................ 20,000 Office salaries ....................................... 12,000 Utilities (60% applicable to factory, 20% to sales room, and 20% to office) .................................... 25,000 Holdaway's cost of goods sold for the year is a. $257,000. b. $260,500. c. $261,000. d. $269,500.

 

Paper#1040 | Written in 18-Jul-2015

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