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Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
Edition 1ISBN: 978-0538736787Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
Edition 1ISBN: 978-0538736787 Exercise 2
COST OF GOODS MANUFACTURED AND SOLD
Favorite Brands Company produces condensed soups at its Catahoula plant. At the beginning of June, the following information was supplied by its accountant:
During June, direct labor cost was $78,000, directmaterials purchases were $346,000, and the total overhead cost was $380,600. The inventories at the end of June were:
Required:
1. Prepare a cost of goods manufactured statement for June.
2. Prepare a cost of goods sold schedule for June.
Favorite Brands Company produces condensed soups at its Catahoula plant. At the beginning of June, the following information was supplied by its accountant:
During June, direct labor cost was $78,000, directmaterials purchases were $346,000, and the total overhead cost was $380,600. The inventories at the end of June were:
Required:
1. Prepare a cost of goods manufactured statement for June.
2. Prepare a cost of goods sold schedule for June.
Explanation
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1.
Prepare a cost of...
Cornerstones of Cost Accounting 1st Edition by Don Hansen,Maryanne Mowen
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