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Chec 3 Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold...

Question

Chec 3 Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold...

Chec 3 Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 1-3 3 points Stuart M
Chec 3 Exercise 1-8A (Algo) Allocating product costs between ending inventory and cost of goods sold LO 1-3 3 points Stuart Manufacturing Company began operations on January 1. During the year, it started and completed 1720 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: Skipped eBook 1. Raw materials purchased and used --$3,080. 2. Wages of production workers-$3.490. 3. Salaries of administrative and sales personnel -$1,960 4. Depreciation on manufacturing equipment-$5,126. 5. Depreciation on administrative equipment-$1765. Hint Print References Stuart sold 1100 units of product. Required a. Determine the total product cost for the year, b. Determine the total cost of the ending Inventory. (Do not round intermediate calculations.) c. Determine the total of cost of goods sold. (Do not round Intermediate calculations) Total product ont bTotal cost of ending inventory c. Total cost of goods sold

Answers

a. Calculation of total production cort. Raw material uxed wages of production workers Depreciation on manufacturing equipmenc. Total cost of goode sold a Total Production Cost cost of ending Inventory $ 11,696 – $4,126 $ tusot


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