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
Where must all laws dealing with money originate why?
Answers (1)
Pure economic rent is: a. The payment to factors whose supply is perfectly inelastic. b. Economic profits. a payment made to land. c. The payment to factors owned by entrepreneurs. d. The payment to factors whose supply is perfectly elastic.
Answers (1)
Ted Riley owns a Lexus worth $40,000. He owns a home worth $275,000. He has a checking account with $800 in it and a savings account with $1,900 in it. He has a mutual fund worth $110,000. His personal assets are worth $90,000.
Answers (1)
To conduct a preelection opinion poll on a proposed amendment to the state constitution, a random sample of 10 telephone prefixes (first three digits of the phone number) was selected, and all households from the phone prefixes selected were called.
Answers (1)
Five productive activities where division of labour is not needed
Answers (1)
New Questions in Business
Hornberger, Inc. recently paid a dividend of $2.00 per share. The next dividend is expected to be $2.05 per share. Hornberger has a return on equity of 11.00%. What percentage of its earnings does Hornberger plow back into the firm?
Answers (1)
A tip of $10 is best for which kind of service? A. a mover who delivers furniture to your new home B. a valet who parks your car at a restaurant C. a waiter at a fast-food restaurant
Answers (2)
Sunland Company manufactures and sells high-priced motorcycles. The Engine Division produces and sells engines to other motorcycle companies and internally to the Production Division.
Answers (1)
Adamson Company manufactures four lines of garden tools. As a result of an activity analysis, the accounting department has identified eight activity cost pools.
Answers (1)
Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent cases. Click here to access the 2019 tax rate schedule. If required, round the tax liability the nearest dollar.
Answers (1)