What is the cost of goods manufactured? Please show your work. ================================================== ACCT 346 Week 1 Homework Assignment
For more course tutorials visit www. uophelp. com
Fred Co. incurred costs of $ 700,000 for direct materials( raw) purchased. Direct labor was $ 5,000 and factory overhead was $ 20,000 for March.
Inventories were as follows: Raw materials beginning $ 6,000; raw materials ending $ 8,000;
Work-in-process beginning $ 230,000; work-in-process ending $ 210,000;
Finished goods beginning $ 16,000; finished goods ending $ 15,500;
What is the cost of goods manufactured? Please show your work. ================================================== ACCT 346 Week 1 Homework Assignment
For more course tutorials visit www. uophelp. com
1. Identify whether each of the items below is a Product Cost or Period Cost: 2. Identify whether each of the items below is a Direct Cost or Indirect Cost: 3. Identify whether each of the below is a Fixed Cost or Variable Cost: 4. Classify each as direct material, direct labor, indirect labor, indirect labor, other manufacturing overhead or period cost, and then answer the 5 questions below:
Factory insurance Company president ' s salary Eggs, salt, water used for baking Depreciation expense on bake ovens Paper wrappers for bread Factory lease Advertising costs