Q-1) Following inventory and cost data relate to a manufacturing company for 2017. Calculate the...
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Q-1) Following inventory and cost data relate to a manufacturing company for 2017. Calculate the Cost of Goods Sold as at December 31, 2017.
Item January 1, 2017 December 31, 2017
Raw materials 8,700 7,000
Work in process 15,000 13,600
Finished goods 16,300 12,000
Raw materials purchase 98,700
Direct labor 42,700
Factory rent 8,000
Factory utilities 10,700
Indirect materials 6,600
Indirect labor 9,300
Operating expenses 17,000
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