San Diego State University Operations And Supply Chain Management Assignment Help - Manufacturing
Question - Fayetteville Manufacturing Co. produces only one product. You have obtained the following information from the corporationâ€™s books and records for the year ended December 31, 2011: a. Total manufacturing cost during the year was $1,000,000, including direct materials, direct labor, and factory overhead. b. Cost of goods manufactured during the year was $970,000. c. Factory overhead charged to work in process was 75% of direct labor cost and 27% of the total manufacturing cost. d. The beginning work in process inventory, January 1, was 40% of the ending work in process inventory, December 31. Required: Prepare a statement of cost of goods manufactured for the year ended December 31 for Fayetteville Manufacturing.
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