The following table summarizes the beginning and ending inventories of Sears Co. For the month of Octobe
criminologist Gwynn Nettler
August 15, 2017The principal purpose of the cash budget is to see how much cash the company will have in the bank at the end of the year.†Do you agree? Explain. If you agree, are there any other purposes that might also be important? If you don’t agree, what do you feel is the principal purpose then?
August 15, 2017The following table summarizes the beginning and ending inventories of Sears Co. For the month of Octobe
The following table summarizes the beginning and ending inventories of Sears Co. For the month of October:
Sept. 30 Oct. 31
Raw Materials $ 29, 700 $31,000
Work-in-process 65,800 61,000
Finished process 52,700 46,200
Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.
1) Calculate the cost of goods manufactured for October.
2) Calculate the cost of goods sold for October (ignore under/overapplied overhead)
