Question

Statement of cost of goods manufactured for a manufacturing company Instructions Amount Descriptions Statement of Cost of Goods Manufactured Cost of Goods Sold Instructions Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Materials ÖNOWN January 1 $305,000 214,200 162,800 January 31 $277,200 238,600 190,500 Work in process Finished goods Direct labor January 31 $562,000 607,000 Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power Supplies 60,600 36,000 12,900 8,100 8,720 Property taxes Miscellaneous costs 16,300

Answer 1

214200 Answer of Part a: Sandusky Manufacturing Company Statements of Cost of Goods Manufactured For the Month Ended January 31 Work in Process Inventory Jan 1 Direct Materials: Materials Jan 1 305000 Add: Purchases 607000 Cost of Materials Available for Use 912000 Less: Materials Jan 31 277200 Cost of Direct Materials Used in Prodution 634800 Direct Labor 562000 Factory Overhead: Indirect Labor 60600 Machinery Depreciation 36000 Heat, Light and Power 12900 Supplies 8100 Property Taxes 8720 Miscellaneous Costs 16300 Total Factory Overhead 142620 Total Manufacturing Costs Incurred During january Total Manufacturing Costs Less: Work in Process inventory, jan 31 Cost of goods Manufactured 1339420 1553620 238600 1315020

Answer of Part b: Sandusky Manufacturing Company Statement of Cost of Goods Sold For the Month Ended January 31 Finished goods Jan 1 Add: Cost of Goods Manufactured Cost of Goods Available for Sale Less: Finished Goods Inventory, Jan 31 Cost of Goods Sold 162800 1315020 1477820 190500 1287320