XYZ Manufacturing had the following data for the period just ended:
|
Work in process, Jan 1 |
$22,000 |
|
Work in process, Dec. 31 |
39,000 |
|
Finished goods, Jan. 1 |
72,000 |
|
Finished goods, Dec 31 |
62,000 |
|
Direct materials used |
124,000 |
|
Direct labor |
250,000 |
|
Factory depreciation |
79,000 |
|
Sales |
940,00 |
|
Advertising |
50,000 |
|
Factory utilities |
25,000 |
|
Indirect materials |
20,000 |
|
Indirect labor |
36,000 |
Required:
A. Calculate XYZ cost of goods sold.
B. Calculate XYZ cost of goods manufactured.
