Chat with AI
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 62
Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold
Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant:
During July, the direct labor cost was $43,500, raw materials purchases were $64,000, and the total overhead cost was $108,750. The inventories at the end of July were:
Required:
1. What is the cost of the direct materials used in production during July?
2. What is the cost of goods manufactured for July?
3. What is the cost of goods sold for July?
Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant:
During July, the direct labor cost was $43,500, raw materials purchases were $64,000, and the total overhead cost was $108,750. The inventories at the end of July were:
Required:
1. What is the cost of the direct materials used in production during July?
2. What is the cost of goods manufactured for July?
3. What is the cost of goods sold for July?
Explanation
Verified
Verified
Direct material cost: It is the main req...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
