During the month of June, Bolder Corporation, a manufacturing company, purchased raw materials costing $76,000. The cost of goods manufactured for the month was $129,000. The beginning balance in the raw materials inventory account was $26,000 and the ending balance was $21,000. The beginning balance in the finished goods inventory account was $52,000 and the ending balance was $35,000.Required:(a) What was the cost of raw materials used in production during June? Show your work.(b) What was the cost of goods sold for June? Show your work.
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On March 31 a company needed to estimate its ending inventory to prepare its first quarter financial statements. The following information is available:Beginning inventory, January 1: $4,000Net sales: $80,000Net purchases: $78,000The company's gross margin ratio is 25%. Using the gross profit method, the cost of goods sold would be:
A. $60,000. B. $63,000. C. $19,500. D. $20,000. E. $58,500.
The sale or transfer of accounts receivable to raise funds is called
a. discounting. b. collateralizing. c. pledging. d. factoring.
In a short essay, list the ten characteristics of successful social entrepreneurs.
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Although wikis have become popular among some users, major companies have yet to embrace them in the business world
Indicate whether the statement is true or false