Homework Answers
Solution:
| Snyder Company | ||
| Schedule of cost of goods manufactured | ||
| Particulars | Amount | |
| Direct materials used | $21,000.00 | |
| Direct labor | $31,000.00 | |
| Factory overhead: | ||
| Indirect materials | $6,400.00 | |
| Indirect labor | $9,200.00 | |
| Factory rent | $12,000.00 | |
| Factory depreciation | $15,000.00 | |
| Factory utilities | $18,400.00 | |
| Total factory overhead cost | $61,000.00 | |
| Total manufacturing costs | $113,000.00 | |
| Add: Beginning WIP | $12,500.00 | |
| Total cost of work in process | $125,500.00 | |
| Less: Ending WIP | $16,500.00 | |
| Cost of goods manufactured | $109,000.00 | |
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