Solution to lecture-1 illustration question

Solution to lecture-1 illustration question - SOLUTION TO...

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SOLUTION TO LECTURE-1 ILLUSTRATION QUESTION 2-43 1. L AREDO L UGGAGE C OMPANY S CHEDULE OF C OST OF G OODS M ANUFACTURED F OR THE Y EAR E NDED D ECEMBER 31, 20 X 2 Direct material: Raw-material inventory, January 1. ................. $ 20,000 Add: Purchases of raw material. ..................... 90,000 Raw material available for use. ...................... $110,0 00 Deduct: Raw-material inventory, December 31 12,500 Raw material used. ........................................ $97,50 0 Direct labor. ..................................................... 100,00 0 Manufacturing overhead: Indirect material. ........................................... $ 5,000 Indirect labor. ................................................ 7,500 Utilities: plant. ............................................... 20,000 Depreciation: plant and equipment. ............... 30,000 Other. ............................................................ 40,000
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This note was uploaded on 08/26/2011 for the course ACCOUNTING 211 taught by Professor Min during the Three '11 term at Curtin.

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Solution to lecture-1 illustration question - SOLUTION TO...

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