Question
4.6 (LO 3) Cost of goods manufactured schedule Rocket Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Rockets CFO, has presented you with
4.6 (LO 3) Cost of goods manufactured schedule Rocket Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Rockets CFO, has presented you with the following cost information:
Direct Materials Inventory, beginning $64,000
Direct Materials Inventory, ending $47,000
Work in Process Inventory, beginning $28,000
Work in Process Inventory, ending $23,000
Direct labor $156,000
Direct materials purchases $220,000
Insurance, factory $43,000
Depreciation, factory $19,000
Depreciation, executive offices $12,000
Indirect labor $15,000
Utilities, factory $16,000
Utilities, executive offices $7,000
Property taxes, factory $13,000
Property taxes, executive offices $8,000
Using this cost information, prepare a cost of goods manufactured schedule for Mr. Clemens.
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