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There were no beginning or ending inventories. Requirement 1. Compute the (1) manufacturing cost...

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Question

Accounting

There were no beginning or ending inventories.

Requirement

1. Compute the (1) manufacturing cost of goods sold, (2) gross profit, (3) operating income, and (4) conversion cost (total manufacturing cost less materials cost).

The

Kerwin

Company had the following data (in thousands) for a given period:

The

Kerwin

Company had the following data (in thousands) for a given period:

Sales $850
Direct materials 230
Direct labor 240
Indirect manufacturing costs 150
Selling and administrative expenses 170

(1) Determine the formula, then compute the manufacturing cost of goods sold.

+ + = Mfg. cost of goods sold
+ + =

Answer & Explanation Solved by verified expert
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