Able Corporation
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Able Corporation incurred the following costs.
Beginning direct materials inventory | $16,000 |
Beginning work-in-process inventory | $7,000 |
Beginning finished goods inventory | $19,000 |
Ending direct materials inventory | $16,000 |
Ending work in process | $14,000 |
Ending finished goods | $ 26,000 |
Factory supervisor's salary | $28,000 |
Depreciation on plant | $12,000 |
Sales | $800,000 |
Selling and administrative expenses | $125,000 |
Plant maintenance | $6,000 |
Plant utilities | $11,000 |
Direct material purchases | $215,000 |
Direct labor | $240,000 |
Calculate the following:
1. Direct materials used
2 Cost of goods manufactured
.3 Cost of goods sold
4 Operating income
12 years ago
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