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Previous question Compute the Cost of Goods Manufactured and Cost of Goods Sold for South Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. (Click the icon to view the data.) Start the calculation for cost of goods manufactured by calculating the direct materials used. South Marine Company Calculation of Direct Materials Used For Current Year Plus: Less: Direct materials used
Compute the Cost of Goods Manufactured and Cost of Goods Sold for South Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. (Click - X Data table Start the ca Beginning of Year End of Year $ 33,000 Insurance on plant $ 29,000 Depreciation-plant building and equipment $ 28,000 Repairs and maintenance-plant 75,000 Marketing expenses. Plus: 83,000 General and administrative expenses 43,000 Less: Direct mat Done Raw materials inventory Work in process inventory Finished goods inventory. Purchases of direct materials Direct labor. Indirect labor. 23,000 $ 37,000 $ 22,000 $ $ $ $ Print End of Year 9,500 $ 13,100 $ 3,600 $ 83,000 $ 23,500