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Using the following, calculate the Cost of Goods M...

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Solution


Question

Using the following, calculate the Cost of Goods Manufactured and Sold CGM&S, Gross Margin, And Net Operating Income CGM&S = $ GROSS MARGING =$ NET OPER. INCOME = $ Inventories Dec. 31, 2009 Dec. 31, 2010 Direct Materials $1,000 $500 WIP $3,500 $2,000 Finished Goods $10,000 $5,000 Other Data: Direct materials purchased on credit $3,000 Direct Labor $4,000 Overhead $6,000 Selling Costs $2,000 General and Administrative Costs $5,000 Sales $50,000 Calculated Amounts Total Manufacturing Costs $13,500 CGM $15,000

 

Paper#11258 | Written in 18-Jul-2015

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