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Business, 16.02.2021 03:30 ambriyaarmstrong01
During the year, a company purchased raw materials of $77,323, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 70% of the direct labor cost. These are the inventory balances: Beginning Ending Raw materials inventory$17,432$16,426 Work in process inventory241,440234,422 Finished goods inventory312,840342,384 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in production$fill in the blank 1 Cost of goods manufactured$fill in the blank 2 Cost of goods sold$fill in the blank 3
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During the year, a company purchased raw materials of $77,323, and incurred direct labor costs of $1...
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