contestada

The Timberlake Company has the following information for August:

Cost of direct materials used in production $25000
Direct labor 35000
Factory overhead 20000
WIP, August 1 30000
WIP, August 31 25000

Requried:
a. Cost of goods manufactured
b. Cost of goods sold

Respuesta :

ayokenny2001

Answer:

See below

Explanation:

1. Cost of goods manufactured

= Cost of direct materials uses in production + Direct labor + Factory overhead

= $25,000 + $35,000 + $20,000

= $80,000

2. Cost of goods sold

= Opening stock + Purchases - Closing stock

Or

Gross income = Gross revenue - Cost of goods sold

Hence we are not able to calculate cost of goods sold with the given information.