Question
Transactions for the Period Debenture Interest Charges $9 500 &nbs
Transactions for the Period
Debenture Interest Charges $9 500
Depreciation on Factory Plant 7 300
Direct Labour 42 000
Direct Materials Purchases 155 000
Duty and Inward Charges on Direct
Materials Purchased 11 000
Plant Supervisor Salaries 10 000
Salesmen's Salaries 30 000
Sundry Manufacturing Expenses 24 000
Inventories at Beginning of the Period
Work in Process $23 200
Direct Materials 40 000
Finished Goods 50 000
Inventories at End of the Period
Work in Process $15 800
Direct Materials 14 000
Finished Goods 18 000
An actual cost system is used in which actual overhead is charged to production.
What is the cost of the goods transferred into finished goods in this period?What is the cost of goods sold?
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