Terri Chichester_AC420_unit2_Project

Terri Chichester_AC420_unit2_Project - Exercise 2-34 Name:...

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Exercise 2-34 Name: Terri Chichester Enter the appropriate amounts in the gray-shaded cells of columns E and F. Enter amounts to be subtracted as negatives. If an answer is incorrect, the word "wrong" will appear. a. Targé Co. Cost of Goods Sold Schedule For the Month Ended March 31, 2010 Beginning finished goods inventory $125,000 Cost of goods manufactured 2,537,500 Cost of goods available for sale $2,662,500 Less: Ending finished goods inventory (18,400) Cost of goods sold $2,644,100 b. Targé Co. Cost of Goods Manufactured Schedule For the Month Ended March 31, 2010 Beginning work in process inventory $90,000 Direct material: Beginning direct material inventory $30,000 Direct material purchased 1,182,000 Direct material available $1,212,000 Less: Ending direct materials inventory (42,000) Direct materials used in production $1,170,000 Direct labor cost 400,000 Total overhead cost 900,000 Total cost to account for $2,560,000 Less: Ending work in process inventory (22,500) Cost of goods manufactured
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This note was uploaded on 11/14/2011 for the course AC420 420 taught by Professor Levine during the Fall '11 term at Kaplan University.

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Terri Chichester_AC420_unit2_Project - Exercise 2-34 Name:...

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