Question

An analysis of the accounts of Waterway Company reveals the following manufacturing cost data for the month ended September 30, 2020. Inventories Raw materials Work in process Finished goods Beginning Ending $11,100 $11,600 7,000 5,300 10,200 11,400 Costs incurred: raw materials purchases $67,400, direct labor $50,500, manufacturing overhead $27,000. The specific overhead costs were: indirect labor $6,900, factory insurance $5,500, machinery depreciation $5,700, machinery repairs $2,800, factory utilities $3,400, miscellaneous factory costs $1,870. Assume that all raw materials used were direct materials. Part 1 Prepare the cost of goods manufactured schedule for the month ended September 30, 2020.

Answer 1

waterway Company Cost of goods manufactured Schedule 0 tor the month month ended December 30/1020 pirect motenal peginning ra material $11,100 Purchases 67/400 Inventory available for use F8500 tes:ending raw matenal 11,600 66,900 TOtal direct materiat used 50S00 Direct labo 27/000 manutauturing overhsad tactory overhead $6900 Indircet takor viotosv ( tactony insurana oD 51400 depreciahon- machineny machineny repairs 3,400 tactony ukuhes mise faetony costs 36,170 ovahead Totat fattny 170,510 0tal manuyactunirg cost Add: Reginning wIP unventory 7/000 tes: Ending WIP inventory (5300 fOtal cot o1 goeds manyactured 2 270