Answer:
Cost of goods manufactured during the period was $225,600
Explanation:
The computation of the Cost of goods manufactured is shown below:
Cost of goods manufactured = Cost of goods sold + ending balance of finished goods inventory - beginning balance of finished goods inventory
= $233,000 + $24,200 - $31,600
= $225,600
We simply added the ending balance of finished goods inventory and deducted the beginning balance of finished goods inventory to the Cost of goods sold
Answer:
fetching and holding materials
moving materials between work areas
keeping records
cleaning machinery
Explanation:
These are correct on edge
The initial outlay for the project after depreciation is loss of $26,700.
<h3>What is
depreciation?</h3>
Depreciation in accounting refers to two parts of the same concept: first, the real decline in fair value of an asset, such as the worth of factory equipment each year.
Depreciation is used to match the cost of a productive asset with a useful life of more than a year to the revenues received by employing the asset. The expense of an asset is frequently spread out throughout the years that it is used.
Section 32 of the Income Tax Act of 1961 contains the provision for authorising depreciation. Depreciation is a deduction allowed by the Income Tax Act for the reduction in the real worth of a physical or intangible asset used by a taxpayer.
To know more about depreciation follow the link:
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