Question

Cost of Goods Manufactured and Sold The following data relate to three independent production periods of Riverside Manufacturing Company. Missing data are indicated by question marks. A B C Materials: Beginning inventory $312 $ 984 $ 660 Purchases ? 4,200 3,000 Ending inventory 444 600 ? Total material used 1,980 ? 2,640 Direct labor 3,480 5,760 4,800 Manufacturing overhead: Indirect material 576 ? 720 Indirect labor 960 900 2,100 Other ? 1,200 2,040 Total manufacturing overhead 3,120 2,880 Work in process inventories: Beginning ? 540 1,560 Ending 420 ? 600 Finished goods inventories: Beginning ? 2,400 480 Ending 2,010 720 1,980 Cost of goods manufactured 8,304 Cost of goods sold 8,034 13,944

Answer 1

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For A	Amount $
Total material used	1,980.00
Add: Ending Inventory	444.00
Less: Beginning Inventory	312.00
Purchases	2,112.00
Total manufacturing overhead	3,120.00
Less: Indirect Material	576.00
Less: Indirect Labor	960.00
Other manufacturing overhead	1,584.00
Total material used	1,980.00
Less: Indirect material used	(576.00)
Direct Labor	3,480.00
Total manufacturing overhead	3,120.00
Costs in current month	8,004.00
Costs of goods manufactured	8,304.00
Add: Ending WIP	420.00
Less: Costs in current month	8,004.00
Beginning WIP	720.00
Costs of goods sold	8,034.00
Add: Ending Finished goods	2,010.00
Less: Costs of goods manufactured	8,304.00
Beginning Finished goods	1,740.00

For B	Amount $
Beginning Inventory	984.00
Add: Purchases	4,200.00
Less: Ending Inventory	600.00
Total material used	4,584.00
Total manufacturing overhead	2,880.00
Less: Indirect Labor	900.00
Less: Other manufacturing overhead	1,200.00
Indirect Material	780.00
Total material used	4,584.00
Less: Indirect material used	(780.00)
Direct Labor	5,760.00
Total manufacturing overhead	2,880.00
Costs in current month	12,444.00
Costs of goods sold	13,944.00
Add: Ending Finished goods	720.00
Less: Beginning Finished goods	2,400.00
Costs of goods manufactured	12,264.00
Costs in current month	12,444.00
Add: Beginning WIP	540.00
Less: Costs of goods manufactured	12,264.00
Ending WIP	720.00

For C	Amount $
Beginning Inventory	660.00
Add: Purchases	3,000.00
Less: material used	2,640.00
Ending Inventory	1,020.00
Indirect Material	720.00
Indirect Labor	2,100.00
Other manufacturing overhead	2,040.00
Total manufacturing overhead	4,860.00
Total material used	2,640.00
Less: Indirect material used	(720.00)
Direct Labor	4,800.00
Total manufacturing overhead	4,860.00
Costs in current month	11,580.00
Beginning WIP	1,560.00
Add: Costs in current month	11,580.00
Less: Ending WIP	600.00
Costs of goods manufactured	12,540.00
Beginning Finished goods	480.00
Add: Costs of goods manufactured	12,540.00
Less: Ending Finished goods	1,980.00
Costs of goods sold	11,040.00

Schedules of cost of goods manufactured and sold
	For A	For B	For C
Direct Materials
Beginning materials Inventory	312.00	984.00	660.00
Cost of material purchased	2,112.00	4,200.00	3,000.00
Cost of material available	2,424.00	5,184.00	3,660.00
Less: Ending materials Inventory	444.00	600.00	1,020.00
Total Material used	1,980.00	4,584.00	2,640.00
Less: Indirect Material used	576.00	780.00	720.00
Direct Material used	1,404.00	3,804.00	1,920.00
Direct Labor	3,480.00	5,760.00	4,800.00
Manufacturing overhead
Indirect Material	576.00	780.00	720.00
Indirect Labor	960.00	900.00	2,100.00
Other manufacturing overhead	1,584.00	1,200.00	2,040.00
Total Manufacturing overhead	3,120.00	2,880.00	4,860.00
Total Manufacturing costs	8,004.00	12,444.00	11,580.00
Add: Beginning WIP	720.00	540.00	1,560.00
Total cost of WIP	8,724.00	12,984.00	13,140.00
Less: Ending WIP	420.00	720.00	600.00
Costs of goods manufactured	8,304.00	12,264.00	12,540.00
Add: Beginning Finished goods	1,740.00	2,400.00	480.00
Costs of goods available	10,044.00	14,664.00	13,020.00
Less: Ending Finished goods	2,010.00	720.00	1,980.00
Costs of goods sold	8,034.00	13,944.00	11,040.00