The Following Inventory and Cost Data for the Just Completed

question 49

Essay

The following inventory and cost data for the just completed year are taken from the accounting records of Sankar Company:
$\begin{array}{|l|l|}\hline \text { Inventories } & \\\hline \text { Increase in raw materials } & \$ 4,000 \\\hline \text { Increase in work in process } & 30,000 \\\hline \text { Decrease in finished goods } & 90,000 \\\hline \text { Costs incurred } & \\\hline \text { Advertising expense } & \$ 200,000 \\\hline \text { Direct labour cost } & 180,000 \\\hline \text { Purchases of raw materials } & 264,000 \\\hline \text { Rent, factory building } & 60,000 \\\hline \text { Indirect factory labour } & 112,600 \\\hline \text { Sales commissions } & 70,000 \\\hline \text { Utilities, factory } & 18,000 \\\hline \text { Maintenance, factory equipment } & 48,000 \\\hline \text { Supplies, factory } & 1,400 \\\hline \text { Depreciation, office equipment } & 16,000 \\\hline \text { Depreciation, factory equipment } & 80,000\\\hline\end{array}$
Required:
(a.)Calculate the cost of goods manufactured.
(b.)Calculate the cost of goods sold

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Definitions:

Homogamy

Homogamy refers to the pattern of individuals marrying others who have similar characteristics, such as background, race, age, and social status.

Social Mobility

Refers to the ability to move within the social hierarchy, which can be upward or downward, influenced by factors such as education, income, and occupation.

Cultural Backgrounds

The cultural heritage, traditions, and values that shape an individual's identity and perspectives, often influencing their behaviors, beliefs, and interactions with others.

Intragenerational Mobility

Movement between social classes that occurs during the course of an individual’s lifetime.