Dickerson Corporation Has Provided the Following Data for the Month

question 55

Essay

Dickerson Corporation has provided the following data for the month of April:
$$\begin{array} { l c c } \text { Inventories: } & \text { Beginning } & \text { Ending } \\\text { Raw materials } & \$ 21,000 & \$ 35,000 \\\text { Work-in-Process } & \$ 17,000 & \$ 19,000 \\\text { Finished goods } & \$ 46,000 & \$ 38,000\end{array}$$
$\begin{array}{llr}\text { Additional information: }\\\text { Raw materials purchases } & \$ 76,000 \\\text { Direct labor cost } & \$ 81,000 \\\text { Manufacturing overhead cost incurred } & \$ 42,000 \\\text { Indirect materials included in manufacturing overhead cost incurred } & \$ 6,000 \\\text { Manufacturing overhead cost applied to Work-in-Process } & \$ 44,000\end{array}$
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in good form.

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Definitions:

Heritability

A statistical estimate of the proportion of the total variance in some trait that is attributable to genetic differences among individuals within a group.

Identical Twins

Twins who develop from a single fertilized egg that splits and forms two embryos, sharing 100% of their genetic material.

Fraternal Twins

Twins that develop from two different eggs fertilized by two different sperm, making them genetically unique from each other.

Critics

Individuals who evaluate or analyze the merits and faults of artistic, literary, or musical works.