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(e) Prepare a production cost report for the Molding
Department for the month of June.
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ACC 560 Week 2 Quiz 1 (Chapter 1)
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ACC 560 Week 2 Quiz 1 (Chapter 1)
Question 1
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