A manufacturing company calculates cost of goods sold as follows: Question 2
Dolan Company ' s accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016 Raw materials inventory $ 310,000 $ 260,000 Work in process inventory 300,000 160,000 Finished goods inventory 190,000 150,000
During 2017, $ 800,000 of raw materials were purchased, direct labor costs amounted to $ 670,000, and manufacturing overhead incurred was $ 640,000. The total raw materials available for use during 2017 for Dolan Company is
Question 3
Product costs are also called Question 4
As current technology changes manufacturing processes, it is likely that direct
Question 5
Sales commissions are classified as Question 6