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Question
Sineath Industries had a fire and some of its accounting records were destroyed. Available information is presented below for the year ended December 31, 2011.| Materials inventory, December 31, 2011 | $15,000 |
| Direct materials purchased | 28,000 |
| Direct materials used | 22,900 |
| Cost of goods manufactured | 135,000 |
Additional information is as follows:
Factory overhead is 150% of direct labor cost.
Finished goods inventory decreased by $18,000 during the year.
Work in process inventory increased by $12,000 during the year.
Calculate:
a) materials inventory, January 1, 2011
b) direct labor cost
c) factory overhead incurred
d) cost of goods sold
Answer
This answer is hidden. It contains 241 characters.
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