Exercise 14-11 Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for...

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Exercise 14-11 Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different si Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2017. HORIZON COMPA

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HORIZON COMPANY
COST OF GOODS MANUFACTURED SCHEDULE
SITUATION 1

PARTICULARS	AMOUNT
	$
Direct material used	122000
Direct labor cost	145100
Manufacturing overhead	90300
Total Manufacturing costs	357400
Add- Opening work in process	35100
Less- Ending work in process	(357400+35100)-362700 =29800
Cost of goods manufactured	362700


HORIZON COMPANY
COST OF GOODS MANUFACTURED SCHEDULE
SITUATION 2

PARTICULARS	AMOUNT
	$
Direct material used	453600-204400-134800 =114400
Direct labor cost	204400
Manufacturing overhead	134800
Total Manufacturing costs	453600
Add- Opening work in process	(474100+43300-453600)= 63800
Less- Ending work in process	43300
Cost of goods manufactured	474100


HORIZON COMPANY
COST OF GOODS MANUFACTURED SCHEDULE
SITUATION 3

PARTICULARS	AMOUNT
	$
Direct material used	85800
Direct labor cost	103700
Manufacturing overhead	269300-(85800+103700)= 79800
Total Manufacturing costs	269300
Add- Opening work in process	64400
Less- Ending work in process	81300
Cost of goods manufactured	269300+64400-81300 =252400


HORIZON COMPANY
COST OF GOODS MANUFACTURED SCHEDULE
SITUATION 4

PARTICULARS	AMOUNT
	$
Direct material used	75100
Direct labor cost	292600-(75100+79200)=138300
Manufacturing overhead	79200
Total Manufacturing costs	292600
Add- Opening work in process	48100
Less- Ending work in process	(292600+48100)-273000=67700
Cost of goods manufactured	273000

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