Sleep Tight Manufactures Comforters

question 174

Essay

Sleep Tight manufactures comforters.The estimated inventories on January 1 for finished goods,work in process,and materials were $39,000,$33,000,and $27,000,respectively.The desired inventories on December 31 for finished goods,work in process,and materials were $42,000,$35,000,and $21,000,respectively.Direct material purchases were $575,000,direct labor was $212,000 for the year,and factory overhead was $156,000.Prepare a cost of goods sold budget for Sleep Tight,Inc.

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Definitions:

Venture Capital

A form of private equity and financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential.

Digital Divide

The gap between individuals, households, or areas with differing levels of access to information and communication technology.

Computer Literacy

The basic ability to use a computer and perform tasks such as creating documents, using the internet, and sending emails.

Private Ownership

The state or fact of exclusive rights and control over property, which can be either an individual or a corporate entity.