Answer-
Cost of goods manufactured schedule | |||
For the year ended Dec 31, 2020 | |||
Particulars | Amount | ||
Work In Process (1/1) | $217,000 | ||
Direct materials: | |||
Raw materials inventory (1/1) ($187,000-($167,000-$18,000)) | $38,000 | ||
Add: Raw materials purchases | $167,000 | ||
Total raw materials available for use ($38000+$167,000) | $205,000 | ||
Less: Raw materials inventory (12/31) | $18,000 | ||
Direct materials used | $187,000 | ||
Direct labor ($414,200-$187,000-$120,900) | $106,300 | ||
Manufacturing overhead: | |||
Indirect labor | $15,400 | ||
Factory depreciation | $37,000 | ||
Factory utilities | $68,500 | ||
Total overhead | $120,900 | ||
Total manufacturing costs ($631,200-$217,000) | $414,200 | ||
Total cost of work in process ($550,600+$80,600) | $631,200 | ||
Less: Work in process (12/31) | $80,600 | ||
Cost of goods manufactured | $550,600 |
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Help System Announcements complete the cost or goous manuractured scheduie ror Cepeda Manuracturing company. CEPEDA MANUFACTURING...
An incomplete cost of goods manufactured schedule is presented below for Cepeda Manufacturing Company for the year ended December 2020: Complete the cost of goods manufactured schedule for Cepeda Manufacturing Company. Complete the cost of goods manufactured schedule for Cepeda Manufacturing Company. CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $217,000 Work in process (1/1) Direct materials Raw materials inventory, (1/1) Raw materials purchases 167,000 Total raw materials available for use 18,000 Less:...
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