using the following data compute 1 the cost of goods manufactured and 2 the cost of 640953
Using the following data, compute (1) the cost of goods manufactured and (2) the cost of goods sold for both Canyon Company and Rossings Company.
Canyon Company |
Rossings Company |
|
Beginning finished goods inventory |
$14,000 |
$18,450 |
Beginning goods in process inventory |
16,500 |
21,950 |
Beginning raw materials inventory |
9,250 |
11,000 |
Rental cost on factory equipment |
29,000 |
24,750 |
Direct labor |
21,000 |
37,000 |
Ending finished goods inventory |
19,650 |
15,300 |
Ending goods in process inventory |
24,000 |
18,000 |
Ending raw materials inventory |
7,300 |
9,200 |
Factory utilities |
11,000 |
14,000 |
Factory supplies used |
10,200 |
5,200 |
General and administrative expenses |
23,000 |
45,000 |
Indirect labor |
3,250 |
9,660 |
Repairs—Factory equipment |
6,780 |
3,500 |
Raw materials purchases |
35,000 |
54,000 |
Sales salaries |
52,000 |
48,000 |