Question 6
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.
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: