Question

Bledsoe Corporation has provided the following data for the month of November:

	Inventories:	Beginning		Ending
	Raw materials..........	$25,000	$21,000
	Work in process.......	$17,000	$10,000
	Finished goods.........	$48,000	$56,000

Additional information:

	Raw materials purchases..........................................	$72,000
	Direct labor cost......................................................	$92,000
	Manufacturing overhead cost incurred.......................	$42,000
	Indirect materials included in manufacturing overhead cost incurred........................................................	$4,000
	Manufacturing overhead cost applied to Work in Process................................................................	$41,000

Required:    Please show all the calculation needed to prepare the following requirements             

1- Prepare a Schedule of Cost of Goods Manufactured and

2- a Schedule of Cost of Goods Sold in good form

Answer 1

Bledsoe corporation Schedule of cost of good manufactured 0 21000 76000 44000 * 2000 92000 Direct Matuial Amt (S) Beginning raw materials inventory 25000 Add: Purchase of raw materials 72000 97000 Raw materials available for use den Ending raw matual, inventory Raw materials used in production den. Indirect materials included in many auturing overhead. Direct labour Many auturing overhead applied to wip Total manufacturing costs Add: Beginning work in proces inventory Total cost of procen inventory den Ending work un procen inventory Cost of goods manufactured. Bledsoe Cooporation Schedule of cost of goods sold. 410oo 205 6000 Work in 17,000 222.000 10,000 219000 2) $48000 212000 2,6 DOO O Beginning finished goods inventory Add cost of goods many acture a Goods available for sale Sin Euding finished goods inventory unadjusted coas 56,000 2,04009

1000 Add Undesapplied or whead Aajusted cost of goods sold 2050oo $ 42000 $ 41000 Mauryauuring overhead cost inurred den Many auturing overhead cost applied Under applied overhead 1ooo