The Following Table Summarizes the Beginning and Ending Inventories of Ariel

question 62

Essay

The following table summarizes the beginning and ending inventories of Ariel Co. for the month of October:
Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.(a) Calculate the cost of goods manufactured for October.(b) Calculate the cost of goods sold for October (Ignore under/overapplied overhead).(c) Given the fact that 25,000 units were produced, what is the cost per unit for October?

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Definitions:

Online Money-Lending Site

A digital platform that connects borrowers with lenders, facilitating loans and financial transactions over the internet.

Prospective Lenders

Individuals or financial institutions that are potential sources of loans or financial backing, still in the consideration or evaluation stage.

Human Capital

The collective skills, knowledge, and abilities of an organization's workforce, regarded as an economic asset.

Abilities

The skills and competencies that enable an individual to perform actions or tasks effectively.