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The following information was taken from Kay Company’s accounting records for the year ended December 31, 2012:

Increase in raw materials inventory $15,000

Decrease in finished goods inventory35,000

Raw materials purchased430,000

Direct manufacturing labor payroll200,000

Factory overhead300,000

Freight-out45,000

There was no work in process inventory at the beginning

or end of the year. Kay’s2012 cost of goods sold is

a.950,000

b.965,000

c.975,000

d.995,000

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Question ajoutée par Utilisateur supprimé
Date de publication: 2015/03/04
Faisal Alsharief
par Faisal Alsharief , Costing Manager , Egyptian Dairy & Foodstuff Co. (EDAFCo.), Member of Danah AlSafat Group.

D).995000

Direct Material=430000=460000

Direct Cost=460000+200000=660000

Cost of Manufacturing=660000+300000=960000

COGS=960000+35000=995000

 

 

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