Question

Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View -ut interruption, please reactivate now. Reactivate Enable Editing MERIWELL COMPANY I Finished goods inventory, beginning Finished goods inventory, ending Depreciation, factory Administrative expenses Utilities, factory Maintenance, factory Supplies, factory Insurance, factory Purchases of raw materials Raw materials inventory, beginning Raw materials inventory, ending Direct labour Indirect labour Work in process inventory, beginning Work in process inventory, ending Sales Selling expenses $20,000 40,000 27,000 110,000 8,000 40,000 11,000 4,000 125,000 9,000 6,000 70,000 15,000 17,000 30,000 500,000 80,000 1) Complete a Cost of Goods Manufactured in Microsoft Excel in the template provided 2) Complete Cost of Goods Sold in Microsoft Excel in the template provided o

Answer 1

Statement of cost of goods manufacture
Raw material, beginning	9,000
Raw material purchase	125,000
Raw material available	134,000
Raw material, ending	-6,000
Direct material used		128,000
Direct labor		70,000
factory overhead :
Depreciation factory	27,000
Utilities, factory	8,000
maintenance, factory	40,000
supplies, factory	11,000
Insurance , factory	4,000
Indirect labor	15,000
Total factory overhead		105,000
Total manufacturing cost		303,000
Work in process, beginning		17,000
Work in process, ending		-30,000
Cost of goods manufactured		$290,000

Schedule of cost of goods sold
Finished goods, beginning	20,000
Cost of goods manufactured	290,000
Cost of goods available for sale	310,000
Finished goods, ending	-40,000
Adjusted cost of goods sold	$270,000