Business
Business, 18.06.2020 19:57, marvezunderwood

Preparing cost of goods sold budget Prepare a cost of goods sold budget for the Summit Manufacturing Company for the year ended December 31, 2011, from the following estimates. Inventories of production units: Work in Process Finished Goods January 1, 2011 . . . $28,500 $19,300 December 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . 23,700 22,400 Direct materials purchased during the year, $854,000; beginning inventory of direct materials, $31,000; and ending inventory of direct materials, $26,000. Totals from other budgets included: Direct labor cost $539,500 Total factory overhead costs 818,000

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Preparing cost of goods sold budget Prepare a cost of goods sold budget for the Summit Manufacturing...

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