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Bledsoe Corporation has provided the following data for the month of November: Raw materials Work in process Finished Goods B

Schedule of COGM Schedule of COGS Prepare a Schedule of Cost of Goods Manufactured. BLEDSOE CORPORATION Schedule of Cost of G

Schedule of COGM Schedule of COGS Prepare a Schedule of Cost of Goods Sold. BLEDSOE CORPORATION Schedule of Cost of Goods Sol

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Bledsoe Corporation has provided the following data for the month of November: Raw materials Work in process Finished Goods B

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BLEDSOE CORPORATION
Schedule of cost of goods manufactured
Direct materials :
   Beginning raw materials inventory 25800
   Add: Purchase of raw materials 72800
   Raw materials available for use 98600
   Less: Ending raw materials inventory 21800
   Raw materials used in production 76800
   Less: Indirect materials included in manufacturing overhead 4080 72720
Direct labor 92800
Manufacturing overhead applied to work in process 41800
Total manufacturing costs 207320
Add: Beginning work in process inventory 17800
Total cost of work in process inventory 225120
Less: Ending work in process inventory 10800
Cost of goods manufactured 214320
BLEDSOE CORPORATION
Schedule of cost of goods sold
Beginning finished goods inventory 48800
Add: Cost of goods manufactured 214320
Goods available for sale 263120
Less: Ending finished goods inventory 56800
Unadjusted cost of goods sold 206320
Add: Underapplied overhead 1080
Adjusted cost of goods sold 207400
Working note :
As the manufacturing overhead cost applied is less than the manufacturing overhead cost incurred, the overhead is underapplied.
Manufacturing overhead cost incurred 42880
Less: Manufacturing overhead cost applied to work in process 41800
Underapplied overhead 1080
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