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Question - The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year. Sales $800 Raw materials inventory, beginning $60 Raw materials inventory, ending $70 Purchases of raw materials $180 Direct labour $100 Manufacturing overhead $190 Administrative expenses $110 Selling expenses $150 Work-in-process inventory, beginning $70 Work-in-process inventory, ending $80 Finished goods inventory, beginning $120 Finished goods inventory, ending $160.
Required -
A. Based on the information provided above develop a cost of goods manufactured schedule.
B. What was the cost of goods sold (in thousands of dollars) for the year?
There are 10,000 shares of $2 par common stock outstanding. The board of directors declares a 15 cent dividend per share on May 15, 2016. On June 30, the above declared dividend is paid to holders of record as of J..
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