Question
The following are beginning and ending inventories of ABC Company for the month of May: April...
The following are beginning and ending inventories of ABC Company for the month of May:
April 30 May 31
Raw materials $ 50,300 $ 41,400
Work-in-process 106,900 97,200
Finished goods 70,800 62,800
Raw materials purchased during the month of May totaled $185,900. Direct labor costs incurred totaled $468,300 for the month. Actual and applied manufacturing overhead costs for May totaled $282,600 and $288,400, respectively. Over/underapplied overhead is written off to cost of goods sold at the end of the year in December.
(a) Calculate the cost of goods manufactured for May.
(b) Calculate the cost of goods sold for May. EssayToolbar navigation opens in a dialog
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