An incomplete cost of goods manufactured schedule is presented here. Instructions Complete the cost of goods manufactured
Question:
An incomplete cost of goods manufactured schedule is presented here.
Instructions
Complete the cost of goods manufactured schedule for Hobbit Company. (Assume that all raw materials used were direct materials.)
Transcribed Image Text:
Work in process, January 1 Direct materials Hobbit Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 Raw materials inventory, January 1 Raw materials purchases Total raw materials available for use Less: Raw materials inventory, December 31 Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total manufacturing overhead Total manufacturing costs Total cost of work in process Less: Work in process, December 31 Cost of goods manufactured $ ? 158,000 ? 22,500 18,000 36,000 68,000 $180,000 ? 122,000 $210,000 ? ? 81,000 $540,000
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Related Book For
Managerial Accounting Tools For Business Decision Making
ISBN: 9781119709589
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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