Question

Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. $ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 1,272,880 38,000 52,000 63,500 180, 200 247,800 15,100 46,000 5,250 33. Ben 143,200 44,600 41,100 69,100 Exercise 14.13 Prepare schedule of cost of goods manufactured LO P2

Answer 1

Schedule of Cost of Goods Manufactured
Particulars	Amount	Amount
Direct Material Used
Raw Material Inventory, beginning	$38,000
Add: Raw Material Purchased	$1,80,200
Total Raw Material Available	$2,18,200
Less: Ending Raw Material	($44,600)
Total Raw Material Used		$1,73,600
Add: Direct Labor		$2,47,000
Add: Manufacturing Overhead
Factory supplies used (Indirect Material)	$15,100
Indirect Labor	$46,000
Repairs - Factory Equipment	$5,250
Rent cost of factory building	$53,000
Total Manufacturing Overhead		$1,19,350
Total Manufacturing Cost		$5,39,950
Add: Beginning Work-In-Progress inventory		$52,000
		$5,91,950
Less: Ending Work-In-Progress inventory		($41,100)
Cost Of Goods Manufactured		$5,50,850