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Schedule of cost of goods manufactured
| Beginning raw material inventory | 170,000 | |
| Purchases of raw materials | 870,000 | |
| Total raw materials available | 1,040,000 | |
| Ending raw material inventory | - 150,000 | |
|
Direct materials used |
890,000 | |
|
Direct labor |
245,000 | |
|
Manufacturing Overheads |
560,000 | |
|
Total manufacturing costs |
1,695,000 | |
|
Work in process, beginning |
210,000 | |
|
Work in process, ending |
- 340,000 |
|
|
Cost of goods manufactured |
$1,565,000 |
Cost of goods manufactured = $1,565,000
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Preparing a Schedule of Cost of Goods Manufactured [L06 - CC11, 12] Lompac Products manufactures a...
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Exercise 14-13 Preparing schedule of cost of goods manufactured P2 Given the following selected account balances of Delray Mfg., prepare its schedule of cost of goods manufactured for the current year ended December 31. Include a listing of the individual overhead account balances in this schedule. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor $1,250,000 Repairs-Factory equipment 37,000 Rent cost of factory...
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Need help preparing the
schedule of cost of goods manufactured for the current year ended
December 31.
The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $...
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