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Part A Instructions: Use the information provided below for Plant A of Big Noizz Corporation to...

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Accounting

Part A Instructions: Use the information provided below forPlant A of Big Noizz Corporation to prepare the Statement of Costof Goods Manufactured, Cost of Goods Sold and Income Statement for2017.

Sales $20,000

Raw Materials Used $5,000

Direct Labor Costs $2,000

Selling and Administrative Expenses $5,000

Beginning Raw Material Inventory $600

Ending Raw Material Inventory $2,000

Net Income $400

Beginning Work-in-Process Inventory zero

Ending Work-in-Process Inventory $600

Beginning Finished Goods Inventory $1,400

Ending Finished Goods Inventory $800

Answer & Explanation Solved by verified expert
3.6 Ratings (517 Votes)
Big Noizz Corporation Statement of Cost of Goods Manufactured Direct Material Used Beginning Raw Material Inventory 600 Add Purchases of Raw Material Inventory 6400note 1 Less Ending Raw Material Inventory 2000 Direct material used 5000 Direct Labor Costs 2000 Manufacturing Overhead    See Answer
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