The following balances are from the accounts of Tappan Parts:
January 1 (Beginning) | December 31 (Ending) | |||||
Direct materials inventory | $ | 21,500 | $ | 24,800 | ||
Work-in-process inventory | 32,200 | 28,700 | ||||
Finished goods inventory | 5,100 | 7,200 | ||||
Direct materials used during the year amount to $46,300 and the
cost of goods sold for the year was $53,200.
Required:
Prepare a cost of goods sold statement.
The following balances are from the accounts of Tappan Parts:
January 1 (Beginning) | December 31 (Ending) | |||||
Direct materials inventory | $ | 21,500 | $ | 24,800 | ||
Work-in-process inventory | 32,200 | 28,700 | ||||
Finished goods inventory | 5,100 | 7,200 | ||||
Direct materials used during the year amount to $46,300 and the
cost of goods sold for the year was $53,200.
Required:
Prepare a cost of goods sold statement.
The following balances are from the accounts of Tappan Parts:
January 1 (Beginning) | December 31 (Ending) | |||||
Direct materials inventory | $ | 21,500 | $ | 24,800 | ||
Work-in-process inventory | 32,200 | 28,700 | ||||
Finished goods inventory | 5,100 | 7,200 | ||||
Direct materials used during the year amount to $46,300 and the
cost of goods sold for the year was $53,200.
Required:
Prepare a cost of goods sold statement.
manufacturing costs
direct materials
beginning inventory
purchases
materials available
less: ending inventory
direct materials used
other manufacturing costs
total manufacturing costs
total costs of work in process
less: ending work in process
cost of goods manufactured
beginning finished goods inventory
finished goods available for sale
less: ending finished goods inventory
cost of good sold
Direct material Purchase: | ||||||
Direct Material used | 46300 | |||||
Add: Ending inventory of RM | 24800 | |||||
Less: Beginning Inventory of RM | -21500 | |||||
Direct material Purchase: | 49600 | |||||
Cost of Goods Manufactured: | ||||||
Cost of goods sold | 53200 | |||||
Add: Ending Inventory of FG | 7200 | |||||
Less: Beginning Inventory of FG | -5100 | |||||
Cost of Goods Manufactured: | 55300 | |||||
Other Manufacturing Cost: | ||||||
Cost of Goods Manufactured | 55300 | |||||
Add: ending Work in process | 28700 | |||||
Less: Beginning WIP | -32200 | |||||
Less: Direct Material consumed | -46300 | |||||
Other Manufacturing Cost: | 5500 | |||||
Statement showing Cost of Goods sold: | ||||||
Beginning Inventory of Work in process | 32200 | |||||
Manufacturing Cost: | ||||||
Direct material: | ||||||
Beginning inventory of RM | 21500 | |||||
Add: Purchases | 49600 | |||||
Material Available | 71100 | |||||
Less: Ending Inventory of RM | -24800 | |||||
Material consumed | 46300 | |||||
Other Manufacturing Cost | 5500 | |||||
Total Manufacturing Cost | 51800 | |||||
Total ccost of Work in process | 84000 | |||||
Less: Ending inventory of WIP | 28700 | |||||
Cost of Goods Manufactured | 55300 | |||||
Add: Beginning Inventory of Finished Goods | 5100 | |||||
Total cost of Goods available for sale | 60400 | |||||
Less: Ending inventory of Finished Goods | 7200 | |||||
Cost of Goods sold | 53200 |
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending)...
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 21,900 $ 25,300 Work-in-process inventory 32,300 28,900 Finished goods inventory 5,300 7,100 Direct materials used during the year amount to $46,300 and the cost of goods sold for the year was $53,100. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory $32,300 Manufacturing costs: Direct materials: Beginning inventory $21,900 Purchases Materials available Less:...
The following balances are from the accounts of Tappan Parts: January 1 December 31 (Beginning) (Ending) $22,000 $24,80€ Direct materials inventory Work-in-process inventory Finished goods inventory 32,400 28,800 5,600 6,800 Direct materials used during the year amount to $46,400 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs Direct materials Materials available Direct materials used...
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 21,500 $ 24,700 Work-in-process inventory 32,400 28,600 Finished goods inventory 5,200 6,800 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $52,900. Required: Prepare a cost of goods sold statement.
The following balances are from the accounts of Tappan
Parts:
January 1 (Beginning)
December 31 (Ending)
Direct materials inventory
$
22,500
$
25,200
Work-in-process inventory
32,100
29,000
Finished goods inventory
5,300
6,700
Direct materials used during the year amount to $46,200 and the
cost of goods sold for the year was $52,900.
Required:
Prepare a cost of goods sold statement
TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials: Materials available Direct...
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 22,400 $ 25,400 Work-in-process inventory 32,800 28,800 Finished goods inventory 5,400 6,700 Direct materials used during the year amount to $45,900 and the cost of goods sold for the year was $53,400. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials: Materials available Direct...
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) Direct materials inventory Work-in-process inventory Finished goods inventory December 31 (Ending) $ 24,600 29,400 7,300 32,600 5,000 Direct materials used during the year amount to $46,400 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,600 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct materials: Beginning...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
The following balances are from the accounts of Tappan Parts: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 22,300 $ 25,000 Work-in-process inventory 32,000 29,300 Finished goods inventory 5,900 6,600 Direct materials used during the year amount to $46,100 and the cost of goods sold for the year was $53,300. Required: Prepare a cost of goods sold statement.
The following balances are from the accounts of Tappan Parts January 1December 31 (Beginning) Direct materials inventory Work-in-process inventory Finished goods inventory (Ending) S 21,900 25,400 29,500 7,000 32,500 5,400 Direct materials used during the year amount to $45,700 and the cost of goods sold for the year was $52,900 Required: Prepare a cost of goods sold statement TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials Materials available Direct materials used...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,600 32,200 5,000 December 31 (Ending) $ 24,600 28,800 7,500 Direct materials used during the year amount to $46,500 and the cost of goods sold for the year was $52,600. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials: Materials available Direct...