Question

03 E2-6B. Schedule of Cost of Goods Manufactured and Sold At December 31, 2019, the end of its fic year, Kelly Metal Products Corporation collected the following data for 2019: Materials inventory, January 1 ...... Materials inventory, December 31 .. Work-in-process inventory, January 1 ..... Work-in-process inventory, December 31 ..... Finished goods inventory, January 1 ..... Finished goods inventory, December 31 ...... Net delivered cost of materials purchased... Direct labor........ Indirect materials ....... Indirect labor... Factory supplies used........ Factory depreciation....... Factory repairs and maintenance. ... Selling expenses (total) .. Non-factory administrative expenses (total). ..... $ 32,000 22,000 34,000 45,000 21,000 18,000 210,000 190,000 13,000 25,000 12,000 78,000 28,000 63,000 57,000 E2- Required Prepare a schedule of cost of goods manufactured and sold for Kelly Metal Products Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. E2- E27B Sob

If you could please explain how you get the answers it would really help me

Answer 1

Schedule of Cost of Goods Manufactured

Direct Materials
Beginning Raw Materials Inventory		$        32,000.00
Add: Purchases of raw materials		210,000.00
Deduct: Ending Raw Materials Inventory		22,000.00
Direct Materials used in production		$      220,000.00
Direct Labor		$      190,000.00
Manufacturing Overhead		156,000.00
Total Manufacturing costs		566,000.00
Add: Beginning WIP Inventory		34,000.00
Deduct: Ending WIP Inventory		45,000.00
Cost of Goods Manufactured for the Year		$      555,000.00
Add: Beginning Finished Goods Inventory		21,000.00
Deduct: Ending Finished Goods Inventory		18,000.00
Cost of Goods Sold		$      558,000.00

Manufacturing Overhead
	13000+25000+12000+78000+28000