Problem 2- 7 Preparing Financial Statements ; Cost Behaviour ( LOT - CCI ; LOS - CC9, 10; 106 - CC 1 1, 12 ) Various cast and sales data for Meriwell...
Hello, can someone please help me. I'm new to accounting and i'm having lots of trouble with this question. i would really appreciate your help
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Problem 2- 7 Preparing Financial Statements ; Cost Behaviour ( LOT - CCI ; LOS - CC9, 10; 106 - CC 1 1, 12 )Various cast and sales data for Meriwell Company for the just-completed year follow !Finished goods inventory , beginning$ 36, 000Finished goods inventory , ending72,000Depreciation , factory21, 000Administrative expenses123, 000Utilities , factory12, 000Maintenance , factory$8, 000Supplies , factory13, 000Insurance , factory5, 8.00Purchases of raw materials141, 000Raw materials inventory , beginning14, 000Raw materials inventory , ending8,000Direct labour$6, 000Indirect labour13, 000Work - in- process inventory , beginning23, 000Work - in - process inventory , ending35, 000Sales50.0, 000Selling expenses$5, 000
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