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(Solved): The following inventory and cost data for the just completed year are taken from the accoun ...



The following inventory and cost data for the just completed year are taken from the accounting records of XYZ Company:
Inventories
Increase in raw materials $ 4,000
Increase in work in process $ 32,000
Decrease in finished goods $ 90,000
Costs incurred
Advertising expense $ 200,000
Direct labour cost $ 180,000
Purchases of raw materials $ 264,000
Rent, factory building $ 60,000
Indirect factory labour $ 112,600
Sales commissions $ 70,000
Utilities, factory $ 18,000
Maintenance, factory equipment $ 48,000
Supplies, factory $ 1,400
Depreciation, office equipment $ 16,000
Depreciation, factory equipment $ 80,000
Required:
(a) Calculate the cost of goods manufactured.
(b) Calculate the cost of goods sold


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(a) Cost of Goods Manufactured = Beg
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