Posted: August 12th, 2016
Calculate the difference between cost of goods manufCalculate the difference between cost of goods manufactured and cost of goods soldactured and cost of goods sold
Cost of Goods Manufactured Statement
Denny Corporation, a manufacturing company, produces a single product. The following information has been taken from the company’s production, sales, and cost records for the just completed year:
Production in units
51,000
Direct labor
$120,325
Raw materials purchased
$325,019
Manufacturing overhead
$250,265
Selling and administrative expenses
$422,100
Raw Materials, Beginning
$62,900
Raw Materials, Ending
$45,345
Work in Process, Beginning
$52,984
Work in Process, Ending
$58,777
Prepare the Cost of Goods Manufactured Statement in good form
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