We appreciate your visit to The Timberlake Company has the following information for August Cost of direct materials used in production 25000 Direct labor 35000 Factory overhead 20000 WIP August. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
See below
Explanation:
1. Cost of goods manufactured
= Cost of direct materials uses in production + Direct labor + Factory overhead
= $25,000 + $35,000 + $20,000
= $80,000
2. Cost of goods sold
= Opening stock + Purchases - Closing stock
Or
Gross income = Gross revenue - Cost of goods sold
Hence we are not able to calculate cost of goods sold with the given information.
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