Computing cost of manufactured and sold goods

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Computing Cost of Manufactured and Sold Goods

Compute the cost of goods manufactured and cost of goods sold for Strike Marine Company for the most recent year using the amounts described below. Assume that raw materials inventory contains only direct materials.

Raw materials inventory

$25,000

$28,000

Insurance on plant

$9,000

Work in process inventory

$50,000

$35,000

Depreciation plant building and equipment

$13,000

Finished goods inventory

$18,000

$25,000

Repairs and maintenance

$4,000

Purchases of direct materials


$78,000

Marketing expenses

$77,000

Direct labor


$82,000

General and administrative expenses

$29,000

Indirect labor


$15,000



 

Reference no: EM13267038

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