Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 14 Aug 2017 My Price 11.00

Lucero Company

COST OF GOODS MANUFACTURED AND SOLD

Lucero Company, a manufacturing firm, has supplied the following information from its accounting records for the past calendar year:

Direct labour cost $206,780

Purchases of direct materials 160,400

Freight-in on materials 830

Factory supplies used 37,800

Factory utilities 46,000

Commissions paid 47,562

Factory supervision and indirect labour 190,000

Advertising 145,600

Materials handling 26,750

Work-in-process inventory, January 1 201,000

Work-in-process inventory, December 31 98,000

Direct materials inventory, January 1 47,000

Direct materials inventory, December 31 17,000

Finished goods inventory, January 1 18,000

Finished goods inventory, December 31 62,700

Required:

1.       Prepare a cost of goods manufactured statement.

2.       Prepare a cost of goods sold statement

Answers

Maurice Tutor
(5)
Status NEW Posted 14 Aug 2017 09:08 PM My Price 11.00

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