Sunday 24 February 2013

The accounting records of Bronco Company revealed the following information: Raw materials used $ 75,000 Direct labor 140,000 Manufacturing overhead 375,000 Work-in-process inventory, 1/1 65,000 Finished-goods inventory, 1/1 204,000 Work-in-process inventory, 12/31 91,000 Finished-goods inventory, 12/31 155,000 Bronco's cost of goods manufactured is: $613,000. $564,000. $616,000. $567,000. None of these.

The accounting records of Bronco Company revealed the following information:
 Raw materials used    $ 75,000  
 Direct labor    140,000  
 Manufacturing overhead    375,000  
 Work-in-process inventory, 1/1    65,000  
 Finished-goods inventory, 1/1    204,000  
 Work-in-process inventory, 12/31    91,000  
 Finished-goods inventory, 12/31    155,000  

Bronco's cost of goods manufactured is:
 
$613,000.

$564,000.
 
$616,000.
 
$567,000.
 
None of these.
                                        


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