Question

Schedule of Cost of Goods Manufactured and Sold
The following amounts are available for 2016 for Bourne Manufacturing Company:

Administrative salaries (non-factory)	$105,000
Administrative rent (non-factory)	52,500
Advertising and promotion expense	61,500
Depreciation-administrative	33,000
Depreciation-factory	45,000
Depreciation-selling	25,500
Direct labor	262,500
Factory rent	27,000
Factory supplies used	18,000
Finished goods inventory (January 1)	85,500
Finished goods inventory (December 31)	78,000
Indirect material used	21,000
Indirect labor	28,500
Materials inventory (January 1)	19,500
Materials inventory (December 31)	30,000
Net delivered cost of materials purchased	207,000
Other factory overhead	39,000
Sales	1,267,500
Sales salaries expense	108,000
Work in process inventory (January 1)	27,000
Work in process inventory ( December 31)	46,500

Using the above data, prepare a schedule of cost of goods manufactured and sold.
Do not use negative signs with any of your answers.

Bourne Manufacturing Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016
Direct material:
Beginning materials inventory		Answer
Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory or Ending finished goods inventory		Answer
Cost of material available		Answer
Less:	Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory or Ending finished goods inventory	Answer
Total materials used		Answer
Less:	Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory or Ending finished goods inventory	Answer
Direct material used			Answer
Direct labor			Answer
Manufacturing overhead
Indirect material		Answer
Indirect labor		Answer
Factory supplies used		Answer
Factory depreciation		Answer
Factory rent		Answer
Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead		Answer
Total manufacturing overhead			Answer
Total manufacturing costs for the year			Answer
Add:	Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead		Answer
Total cost of work in process during the year			Answer
Less:	Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead		Answer
Cost of goods manufactured			Answer
Add:	Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead		Answer
Cost of goods available for sale			Answer
Less:	Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead		Answer
Cost of goods sold			Answer

Answer 1

Ans: - Bourne manufacturing Company Schedule of lost of Goods manufactured and sold for the year anded December 31, 2016 Direct materiel?_ Beginning materials Inventory & 19,500. Cost of materials purchased | $207,000 - Cost o material available 72.26,500 hey! Euding meteval Inventory $ 30,000 - Total materials used $196,500 Lesses Indirect maleries used $21,670 - Direct materials used $175,500 Direet labor $262.560 Manufacturing overhead Indirect material Indired labor factory supplies Used factory Depreciation factory rent other factory overhead $21,000 $28,500 $18.000 $ 45,000 $27,000 $39.000 Total manufacturing overhead $176,500 $616 500 $27,000 Total manufacturing Costs for the year Addi Beginning work in proces Anwntory. Total Cost of work in process during o the year $643,500

$46,500 $597,000 $85,500 Lexs: Euding work in process Inventory Cost of Grods manufactured Add + Begtoring finished goods Inventory I Cost of Goods available for sale Less Cunding finished Goods Inventory I Cost of Goods sold | $682,500 $78,000 $ 604,500
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