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29 Sep 2019
(TCO A) The following data (in thousands of dollars) have beentaken from the accounting records of the Maroon Corporation for thejust-completed year.
Sales 1,200
Raw materials inventory, beginning 25
Raw materials inventory, ending 50
Purchases of raw materials 180
Direct labor 230
Manufacturing overhead 250
Administrative expenses 400
Selling expenses 200
Work-in-process inventory, beginning 150
Work-in-process inventory, ending 120
Finished goods inventory, beginning 100
Finished goods inventory, ending 110
Use the above data to prepare (in thousands of dollars) a scheduleof Cost of Goods Manufactured and a Schedule of Cost of Goods Soldfor the year. In addition, what is the impact on the financialstatements if the ending finished goods inventory is overstated orunderstated?
(TCO A) The following data (in thousands of dollars) have beentaken from the accounting records of the Maroon Corporation for thejust-completed year.
Sales 1,200
Raw materials inventory, beginning 25
Raw materials inventory, ending 50
Purchases of raw materials 180
Direct labor 230
Manufacturing overhead 250
Administrative expenses 400
Selling expenses 200
Work-in-process inventory, beginning 150
Work-in-process inventory, ending 120
Finished goods inventory, beginning 100
Finished goods inventory, ending 110
Use the above data to prepare (in thousands of dollars) a scheduleof Cost of Goods Manufactured and a Schedule of Cost of Goods Soldfor the year. In addition, what is the impact on the financialstatements if the ending finished goods inventory is overstated orunderstated?
Sales 1,200
Raw materials inventory, beginning 25
Raw materials inventory, ending 50
Purchases of raw materials 180
Direct labor 230
Manufacturing overhead 250
Administrative expenses 400
Selling expenses 200
Work-in-process inventory, beginning 150
Work-in-process inventory, ending 120
Finished goods inventory, beginning 100
Finished goods inventory, ending 110
Use the above data to prepare (in thousands of dollars) a scheduleof Cost of Goods Manufactured and a Schedule of Cost of Goods Soldfor the year. In addition, what is the impact on the financialstatements if the ending finished goods inventory is overstated orunderstated?
Lelia LubowitzLv2
29 Sep 2019
