Question
2A Schedule of Cost of Goods Manufactured Kelowna Plumbing Supplies shows the following data related to its December 31, 2017 fiscal year: Raw materials inventory,
2A Schedule of Cost of Goods Manufactured
Kelowna Plumbing Supplies shows the following data related to its December 31, 2017 fiscal year:
Raw materials inventory, January 1, 2017 | $5,000 |
Raw materials inventory, December 31, 2017 | 8,000 |
Work in process inventory, January 1, 2017 | 23,000 |
Work in process inventory, December 31, 2017 | 21,000 |
Finished goods inventory, January 1, 2017 | 16,000 |
Finished goods inventory, December 31, 2017 | 10,000 |
Advertising | 56,000 |
Factory supervisor's salary | 42,000 |
Company president's salary | 85,000 |
Property taxes factory | 25,000 |
Depreciation factory | 35,000 |
Factory maintenance | 7,000 |
Sales commissions | 32,000 |
Depreciation office | 2,000 |
Utilities expense - factory | 23,000 |
Utilities expense - office | 11000 |
Purchases of raw materials | 148,000 |
Direct labour | 160,000 |
Required:
Based on the information above, prepare a schedule of cost of goods manufactured.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started