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Prepare a cost of goods sold statement View less

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COST OF GOODS MANUFACTURED AND SOLD Lucero Company, a manufacturing firm, has supplied the… 1 answer below » COST OF GOODS MANUFACTURED AND SOLD Lucero Company, a manufacturing firm, has supplied the following information from its accounting records for the past calendar year: Direct labour cost $206,780 Purchases of direct materials 160,400 Freight-in on materials 830 Factory supplies used 37,800 Factory utilities 46,000 Commissions paid 47,562 Factory supervision and indirect labour 190,000 Advertising 145,600 Materials handling 26,750 Work-in-process inventory, January 1 201,000 Work-in-process inventory, December 31 98,000 Direct materials inventory, January 1 47,000 Direct View complete question » COST OF GOODS MANUFACTURED AND SOLD Lucero Company, a manufacturing firm, has supplied the following information from its accounting records for the past calendar year: Direct labour cost $206,780 Purchases of direct materials 160,400 Freight-in on materials 830 Factory supplies used 37,800 Factory utilities 46,000 Commissions paid 47,562 Factory supervision and indirect labour 190,000 Advertising 145,600 Materials handling 26,750 Work-in-process inventory, January 1 201,000 Work-in-process inventory, December 31 98,000 Direct materials inventory, January 1 47,000 Direct materials inventory, December 31 17,000 Finished goods inventory, January 1 18,000 Finished goods inventory, December 31 62,700 Required: 1.       Prepare a cost of goods manufactured statement. 2.       Prepare a cost of goods sold statement View less » Dec 09 2015 02:54 PM



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