The following accounts are from last years books at Sharp Manufacturing: ...
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Accounting
The following accounts are from last years books at Sharp Manufacturing:
Raw Materials
Bal
0
(b)
157,000
(a)
171,500
14,500
Work In Process
Bal
0
(f)
522,000
(b)
133,500
(c)
171,000
(e)
217,500
0
Finished Goods
Bal
0
(g)
475,000
(f)
522,000
47,000
Manufacturing Overhead
(b)
23,500
(e)
217,500
(c)
27,500
(d)
159,000
7,500
Cost of Goods Sold
(g)
475,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?
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