Question

Instructions Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories Materials March 1 $305,000 214,200 162,800 March 31 $277,200 238,600 190,500 Work in process Finished goods March 31 $562,000 607.000 Direct labor Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power 60,600 36.000 12,900 8.100 8.720 16,300 Supplies Property taxes Miscellaneous costs Check My Work < Previous Next)

Answer 1

Schedule of cost of goods manufactured
Direct Materials:
Beginning Raw materials	$3,05,000
Add:Purchase of raw materials	$6,07,000
Total Raw materials available	$9,12,000
Less:Ending raw materials inventory	$2,77,200
Raw materials used in production		$6,34,800
Direct Labor		$5,62,000
Factory Overhead:
Indirect labor	$60,600
Machinery Depreciation	$36,000
Heat, Light and Power	$12,900
Supplies	$8,100
Property Taxes	$8,720
Miscallenous Costs	$16,300
Toatl Factory Overhead Cost		$1,42,620
Total manufaturing costs		$13,39,420
Add:Beginning WIP inventory		$2,14,200
		$15,53,620
Less:Ending WIP inventory		$2,38,600
Cost of goods manufactured		$13,15,020
Schedule of cost of goods sold
Beginning Finished goods inventory	$1,62,800
Add:Cost of goods manufactured	$13,15,020
Cost of goods available for sale	$14,77,820
Less:Finished goods inventory	$1,90,500
Unadjusted cost of goods sold	$12,87,320