Question

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. CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $212,500 $ 166,000 Work in process (1/1) Direct materials Raw materials inventory(1/1) Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used 17,800 $188,000 Direct labour Manufacturing overhead

Answer 1

$219,500 Total Cost of work in process Anor CEPEDA MANUFACTURING COMPANY Cost of Goods mom efectured Schedule for the Year Ended December 31, 2020 work in process (+11) Direct materials Raw materials inventory. (1/1) $ 39,800 Raw materials purchases $166,000 Total claw materials available for ube $ 205, 800 Less: Rew materials inventory (12/31) $17,800 Dired materiais used $188,000 Direet labour $ 110, 300 Indirect labour | $15,500 |$36,400 $68,000 Total manufacturing overhead Total manufacturing costs 1 Manufacturing overhead factooy depreception factory Utilities 4119,900 $418,200 $630,700 $80,200 Lesse work in process (12/31) Cost of goods manufactured $550,500

Working:-

Total cost of work in process = $550,500 + $80,200 = $630,700

Total manufacturing cost = $630,700 - $212,500 = $418,200

Direct labour = $418,200 - $119,900 - $188,000 = $110,300

Total raw materials available for use = $188,000 + $17,800 = $205,800

Raw materials inventory (1/1) = $205,800 - $166,000 = $39,800

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