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1. (TCO A) The following data (in thousands of dollars) have been taken
from the accounting records of Larop Corporation for the just-completed
year.
Sales $950
Purchases of raw materials $225
Direct labor $250
Manufacturing overhead $295
Administrative expenses $150
Selling expenses $140
Raw materials inventory, beginning $30
Raw materials inventory, ending $45
Work-in-process inventory, beginning $20
Work-in-process inventory, ending $55
Finished goods inventory, beginning $100
Finished goods inventory, ending $135
Prepare a Schedule of Cost of Goods Manufactured statement in the text
box below. (Points : 15)
Schedule of cost of goods manufactured
Direct materials:
Question 2.2. (TCO B) The Nebraska Company manufactures a product
that goes through three processing departments. Information relating to
activity in the first department during June is given below.
Percentage Completed
Units Materials Conversion