Question

Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,013,000 41,000 53, 100 64,200 151,700 224,000 24,600 59,000 5,250 59,000 90,000 125,000 46,500 41,700 72,600 Exercise 14-13 Preparation of schedule of cost of goods manufactured LO P2 Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. DELRAY MFG Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials

Answer 1

DELRAY MEG. . Schedule of cost of Goods Manufactured - For Year Ended Dec. 31. 2017 Dimeed malerials | Raw materials inventory Dec. 31.2016 $ 41000 Add: Raw materials pure hases $151.700 Raw materials available for use $ 192,700 Thess: Raw material inventory.Dec.31.2017 15(46,500 ) Direed madenials used - $ 146,200 Direed labore - $ 224.000 Faedony Overhead: Factory computer supplies ised Indirect labore Repairs-faclony equipment Ben't cost of faclony building s 24600 f 59.000 to 5.250 459.000 11 $147.850 $ 518,050 1$ 55,100 Tolol feedony Overhead caste Total manufaecurring costs Addi Workinprocess inventory Dee. 34. 2016 | Total cost of work in process thesie dorkinpaocess inventony, Dec. 3.4.2011 - Cost of goods manufactured $571,150 $141, 700 ) $529,450

Explanations : Tolal manufacturing costs 1. Direed materials & Direed Tofal foed ony ! alercials + labor + Overhead cost! I used :($ 146,200 + $ 224,000 +$147,850) - $518,050 Cost of goods manu feel cred Total manufaellucing WIP inventbay - WIP crvendary) : Ut Dec. 31.2016 - . Cail Dee:34. 2014/ || Costs (7518,050 + $53100 - $ 41,100) 3 $529,450