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I have the following problem, that I have done in several ways and

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I have the following problem, that I have done in several ways and I always get an answer that is greater that the correct one. These are the figures (in thousands of dollars);Direct Labor Cost: $10,500;Purchase of Materials: 15,000;Supplies used: 675;Factory Insurance: 350;Advertising: 800;Material Handling: 3,745;Work-in-process inventory, 12/31/2003: 12,500;Work-in-process inventory, 12/31/2004: 14,250;Material Inventory, 12/31/2003: 3,475;Material Inventory, 12/31/2004: 9,500;Finished goods inventory, 12/31/2003: 6,685;Finished goods inventory, 12/31/2004: 4,250;1. Prepare a statement of cost of goods manufactured. (Correct answer is 24720, my answer is 29780);2. Prepare a statement of cost of goods sold. (Correct answer is 27155, my answer

 

Paper#23777 | Written in 18-Jul-2015

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