The following events took place at a manufacturing company, Ask an Expert

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The following events took place at a manufacturing company for the current year:

(1) Purchased $106,000 in direct materials.
(2) Incurred labor costs as follows: (a) direct, $61,500 and (b) indirect, $15,800.
(3) Other manufacturing overhead was $118,000, excluding indirect labor.
(4) Transferred 85% of the materials to the manufacturing assembly line.
(5) Completed 70% of the Work-in-Process during the year.
(6) Sold 90% of the completed goods.
(7) There were no beginning inventories.

What is the company's Cost of Goods Sold?

	$256,860.00.
	$179,802.00.
	$301,300.00.
	$199,780.00.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796775

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