## 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 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 equipment Total Production cost $ 3,080 $3,490 $5,126 ($ 11, 696 b. Total cost of Anding Enventory calculation Production cost per onit al closing Inventory - Production cost per out - Total Production Cost & Units Prodoced - Total Production cost Onits Produced & 11, 6966 1720 ofte -) Production cort per unit = 11, 696/1720 6.8 1720- Too clusing loventory 620 units closing soventory copt = 46.8 x 620 1 = 441261c. Total cost of goode sold a Total Production Cost cost of ending Inventory $ 11,696 – $4,126 $ tusot

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