Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant: Raw materials inventory $40,000 Work-in-process inventory 21,000 Finished goods inventory 23,200 During July, the direct labor cost was $43,500, raw materials purchases were $64,000, and the total overhead cost was $108,750. The inventories at the end of July were: Raw materials inventory $19,800 Work-in-process inventory 32,500 Finished goods inventory 22,100 Required:
1. What is the cost of the direct materials used in production during July? $
2. What is the cost of goods manufactured for July? $
3. What is the cost of goods sold for July?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold Bisby Company manufactures fishing rods. At the beginning of July, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Assume billie's bedroom shop only produces pillows and blankets. a combination of 27 pillows and 14 blankets would appear
Answers (1)
ABC Bookstore sells packages of books that include both new and used books. New books cost $17 and used books cost $7. The bookstore wants to sell packages that have 32 books total, and the store charges $304 for each package.
Answers (1)
Where is the best place to be a welder?
Answers (2)
A stock character is one that's a. constantly changing and adapting to situations. b. typically one-dimensional with a dominant quality. c. always involved in some type of internal conflict. d. familiar and commonly used in many stories.
Answers (1)
Shane is looking for ways to get more capital for his appliance sales and service business. he is very protective of his company's information and fears that it will get into the wrong hands. shane would probably not want to
Answers (1)
New Questions in Business
Friendly's Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when you get your paycheck in one week (or else).
Answers (1)
Shoeleather costs arise when higher inflation rates induce people to:a. spend more time looking for bargains. b. spend less time looking for bargains. c. hold more money. d. hold less money.
Answers (1)
Lewis Inc. had the following information taken from various accounts for 2015: Sales Discounts $41,000 Unearned Revenue $32,000 Total Sales $459,000 Purchase Discounts $15,000 Sales Allowances $35,000 Accounts Receivable $205,000 What was Lewis Inc.
Answers (1)
True or False: The basic economic theory of supply and demand suggests that when price drops, consumers will buy more and thus generate stronger demand.
Answers (1)
If you think carefully about what you're doing, always ask for advice when you need it, and keep asking questions, starting a business can be
Answers (2)