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Analying Activity in Inventory Accounts. Select d...

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Analying Activity in Inventory Accounts. Select data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: Raw materials used $300,000 Total manufacturing costs charged to production during the year (includes raw materials, direct labor, and manufacturing overhead applied at a rate of 60 percent of direct labor costs) 681,000 Cost of goods available for sale 826,000 Selling and general expenses 30,000 Inventories beginning Ending Raw materials $70,000 $80,000 Work-in-process 85,000 30,000 Finished goods 90,000 110,000 Required Determined each of the following: a. Cost of raw materials purchased b. Direct labor costs charged to production c. Cost of goods manufactured d. Cost of good sold

 

Paper#11148 | Written in 18-Jul-2015

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