Answer a ) | |||
Sandusky Manufacturing Company | |||
Statement of Cost of goods manufactured | |||
For the month ended January 31 | $ | $ | |
Direct Materials | 285010 | See working note below | |
Direct Labour | 245700 | ||
530710 | |||
Factory Overhead | |||
Indirect Labor | 26210 | ||
Machinery depreciation | 15830 | ||
Heat light and power | 5460 | ||
Supplies | 4370 | ||
Total Factory Overheads | 51870 | ||
Total Manufacturing cost incurred in January | 582580 | ||
Total Manufacturing Costs | 582580 | ||
Cost of good manufactured | 582580 | ||
Answer b ) | |||
Cost of goods sold | |||
For the month ended January 31 | $ | $ | |
Cost of goods manufactured | 582580 | ||
Property Tax | 3820 | ||
Miscellaneous Costs | 7100 | 10920 | |
Cost of goods sold | 593500 | ||
Assumptions | |||
Property Tax and Miscellaneous Costs have not been | |||
considered to be cost of goods manufactured. | |||
However , these costs have been included into | |||
Cost of Goods Sold |
Working note for calculation of Cost of material consumed | |||
Materials Account | |||
Particulars | Amount | Particulars | Amount |
Op bal | 136500 | Cost of material issued | 275730 |
Purchases | 262080 | ||
Closing bal | 122850 | ||
398580 | 398580 | ||
WIP Account | |||
Particulars | Amount | Particulars | Amount |
Op bal | 92820 | Cost of material consumed | 285010 |
Cost of mat issued | 275730 | ||
Cl bal | 83540 | ||
368550 | 368550 |
Thank you in advance! :) Statement of Cost of Goods Manufactured for a Manufacturing Company Cost...
Thank you in advance! Please fill in the empty square boxes for (a) and (b). This is my second post, the first one I had answered by someone had wrong numbers for every question (I'm not sure if the answers were from a different post with different numbers) so I'm hoping this will work! Thanks again :) Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Material:s Work in process Finished goods January 1 $180,000 334,600 675,000 January 31 $145,500 290,700 715,000 Direct labor Materials purchased during January Factory overhead incurred during January: $2,260,000 1,375,000 115,000 90,000 55,000 18,500 10,000 33,100 a. Prepare a cost of goods manufactured statement for January. Indirect labor Machinery depreciation Heat, light, and power Supplies...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $180,500 $157,040 Work in process 120,940 105,220 Finished goods 93,860 106,790 Direct labor $324,900 Materials purchased during January 346,560 Factory overhead incurred during January: Indirect labor 34,660 Machinery depreciation 20,940 Heat, light, and power 7,220 Supplies 5,780 Property taxes 5,050 Miscellaneous costs 9,390 a. Prepare a cost of goods...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $225,250 $200,470 Work in process 148,670 132,310 Finished goods 117,130 136,320 Direct labor $405,450 Materials purchased during January 432,480 Factory overhead incurred during January: Indirect labor 43,250 Machinery depreciation 26,130 Heat, light, and power 9,010 Supplies 7,210 Property taxes 6,310 Miscellaneous costs 11,710 a. Prepare a cost of goods...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $154,000 $132,440 Work in process 103,180 88,730 Finished goods 78,540 88,730 Direct labor $277,200 Materials purchased during January 295,680 Factory overhead incurred during January: Indirect labor 29,570 Machinery depreciation 17,860 Heat, light, and power 6,160 Supplies 4,930 Property taxes 4,310 Miscellaneous costs 8,010 a. Prepare a cost of goods...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $208,750 $185,790 Work in process 139,860 124,480 Finished goods 106,460 126,340 Direct labor $375,750 Materials purchased during January 400,800 Factory overhead incurred during January: Indirect labor 40,080 Machinery depreciation 24,220 Heat, light, and power 8,350 Supplies 6,680 Property taxes 5,850 Miscellaneous costs 10,860 a. Prepare a cost of goods...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $196,000 $176,400 Work in process 135,240 121,720 Finished goods 99,960 118,190 Direct labor $352,800 Materials purchased during January 376,320 Factory overhead incurred during January: Indirect labor 37,630 Machinery depreciation 22,740 Heat, light, and power 7,840 Supplies 6,270 Property taxes 5,490 Miscellaneous costs 10,190 a. Prepare a cost of goods...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Materials January 1 $191,000 126,060 99,320 January 31 $164,260 108,410 110,050 Work in process Finished goods Direct labor $343,800 366,720 Materials purchased during January Factory overhead incurred during January: Indirect labor Machinery depreciation Heat, light, and power 36,670 22,160 7,640 6,110 5,350 9,930 Supplies Property taxes Miscellaneous costs a. Prepare a cost of goods...
Module 1: Assignment Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $141,590 $162,750 112,300 Work in process 97,700 Finished goods 84,630 96,280 Direct labor 2050 Direct labor $292,950 Materials purchased during January 312,480 Factory overhead incurred during January: Indirect labor 31,250 Machinery depreciation 18,880 Heat, light, and power 6,510 Supplies 5,210 Property taxes 4,560 Miscellaneous costs 8,460...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Materials Work in process Finished goods January 1 $203,500 140,420 105,820 January 31 $175,0100 120,760 117,260 Direct labor Materials purchased during January Factory overhead incurred during January: $366,300 390,720 39,070 23,610 8,140 6,510 5,700 10,580 a. Prepare a cost of goods manufactured statement for January Indirect labor Machinery depreciation Heat, light, and power Supplies...