The following miscellaneous data has been collected for Sawyers Manufacturing Company for the most recent year-end:
inventories Begining Ending

Raw material $50,000 $55,000

Work in process 40,000 45,000
Finished goods 60,000 50,000
Costs recorded during the year:
Purchases of raw material $195,000
Direct labor $150,000
Cost of goods sold 595,000
Required: Prepare statements of cost of goods manufactured and cost of goods sold showing how all unknown amounts were determined.

Question

The following miscellaneous data has been collected for Sawyers Manufacturing Company for the most recent year-end:

inventories	Begining	Ending
Raw material	$50,000	$55,000
Work in process	40,000	45,000
Finished goods	60,000	50,000
Costs recorded during the year:
Purchases of raw material	$195,000
Direct labor	$150,000
Cost of goods sold	595,000

Required: Prepare statements of cost of goods manufactured and cost of goods sold showing how all unknown amounts were determined.

Quizplus · Accepted Answer

The Answer of The following miscellaneous data has been collected for Sawyers Manufacturing Company for the most recent year-end:

inventories	Begining	Ending
Raw material	$50,000	$55,000
Work in process	40,000	45,000
Finished goods	60,000	50,000
Costs recorded during the year:
Purchases of raw material	$195,000
Direct labor	$150,000
Cost of goods sold	595,000

Required: Prepare statements of cost of goods manufactured and cost of goods sold showing how all unknown amounts were determined.

The Following Miscellaneous Data Has Been Collected for Sawyers Manufacturing