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$640,000.
If Dolan Company's cost of goods manufactured for 2017 amounted to
$1,890,000, its cost of goods sold for the year is
Question 7
Property taxes on a manufacturing plant are an element of a
Product Cost Period Cost
Question 8
Benson Inc.'s accounting records reflect the following inventories:
Dec. 31, 2016Dec. 31, 2017
Raw materials inventory $ 80,000 $ 64,000
Work in process inventory 104,000 116,000
Finished goods inventory 100,000 92,000
During 2017, Benson purchased $1,450,000 of raw materials, incurred
direct labor costs of $250,000, and incurred manufacturing overhead
totaling $160,000.
Assume Benson’s cost of goods manufactured for 2017 amounted to
$1,660,000. How much would it report as cost of goods sold for the year?
Question 9
On the costs of goods manufactured schedule, the item raw materials
inventory (ending) appears as a(n)