Danica Corp. provided the following inventory balances and cost data for the month of June. June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000 Required: Compute the cost of goods sold under NORMAL COSTING
Danica Corp. provided the following inventory balances and cost data for the month of June. June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000 Required: Compute the cost of goods sold under NORMAL COSTING
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Danica Corp. provided the following inventory balances and cost data for the month of June.
| June 1 | June 30 | |
| Direct Materials | 30 000 | 40 000 |
| Work in Process | 15 000 | 20 000 |
| Finished Goods | 65 000 | 50 000 |
Production data for the month of June follows:
| Cost of goods manufactured | 515 000 |
| Factory |
150 000 |
| Direct materials used | 190 900 |
| Actual factory overhead | 144 000 |
Required: Compute the cost of goods sold under NORMAL COSTING.
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