Helza manufacturing provided that for last year, cost of goods sold is 565, 000, factory overhead is applied on the basis of 80% of direct labor cost. Material used during the process is 115,000. The following addition information is as under: Opening Ending Inventory Inventory Direct material 25,000 35,000 Work in Process 30,000 40,000 Finished goods 35,000 25,000 During the period the following expenses incurred: Depreciation of Plant and Machinery 82,000 Security charges of factory 20,000 Fuel and power 110,000 Charge FoH under or over applied to entire production Required: Complete cost of goods sold statement?
Helza manufacturing provided that for last year, cost of goods sold is 565, 000, factory overhead is applied on the basis of 80% of direct labor cost. Material used during the process is 115,000. The following addition information is as under: Opening Ending Inventory Inventory Direct material 25,000 35,000 Work in Process 30,000 40,000 Finished goods 35,000 25,000 During the period the following expenses incurred: Depreciation of Plant and Machinery 82,000 Security charges of factory 20,000 Fuel and power 110,000 Charge FoH under or over applied to entire production Required: Complete cost of goods sold statement?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Helza manufacturing provided that for last year, cost of goods sold is 565, 000, factory
Opening Ending
Inventory Inventory
Direct material 25,000 35,000
Work in Process 30,000 40,000
Finished goods 35,000 25,000
During the period the following expenses incurred:
Security charges of factory 20,000
Fuel and power 110,000
Charge FoH under or over applied to entire production
Required: Complete cost of goods sold statement?
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