Question

Bledsoe Corporation has provided the following data for the month of November: Inventories: Raw materials Work in process Finished Goods Beginning Ending $ 25,500 $ 21,500 $ 17,500 $ 10,500 $ 48,500 $56,500 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $ 72,500 $92,500 $42,550 $ 4,050 $41,500 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Complete this question by entering your answers in the table below. Schedule of COGM Schedule of COGS Prepare a Schedule of Cost of Goods Manufactured. BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Direct materials: Raw materials available for use Raw materials used in production Total manufacturing costs Cost of goods manufactured

Answer 1

Amt Amount listy Bledsoe corporation schedule of cost of goods manufactured particulars Diket materials i Beginning raw material inventory $25,500 Addr pullhase of raw materials $ 72,500 Raw materials available for use $ 98000 tess fading raw materials $ 21,500) Raw materials used in production $ 76,500 less indirect materia included ($4050) $72,450 in manufacturing overhead $ 92,500 Direct labout $ 41,600 Manufacturing overhead applied to wone in process $ 206,450 Total manufactuing costa $ 17,500 Addi Beginning world in process inventory ( 10.500) less fading Worie in prous inventory cost of goodly manufactured $213450

Amount $48,500 $243,4450 Bledsoe Corporation Schedule of cost of goods sold particulas Beginning finished google inventory Addi- cost of goodle manufacturid Gooly available for sale less Ending finished goot & inventory unadjusted cost of good, sold $205,450 Add underapplied over hoods $ 1050 Adjusted cost of goodn sold $ 206,500 $261,950 (56,500) note) manufactuly overhead cost applied ix less than the manufacturing ovelhead cost inculted, therefore Overhead Ý under applied. manufactuicy ovelhead lost incurred $42,550 ley - manufactuing overhead cost applied to work in process $ 40,500 under applied over had $1050