An incomplete cost of goods manufactured schedule is presented below. Hobbit Company Cost of goods manufactured Schedule For the year ended December 31, 2017 work
An incomplete cost of goods manufactured schedule is presented below.
Hobbit Company
Cost of goods manufactured Schedule
For the year ended December 31, 2017
work in process (1/1) $210,000
Direct Materials
Raw materials inventory (1/1) $ ?
Add: Raw material purchases 158,000
_____________
Total raw materials available for use ?
Less: Raw materials inventory (12/31) 22,500
_________________
Direct materials used $180,000
Direct labor ?
Manufacturing overhead
Indirect labor 18,000
factory depreciation 36,000
Factory utilities 68,000
_____________
Total overhead 122,000
-------------------
Total manufacturing costs ?
______________
Total cost of work process ?
Less: Work in process (12/31) $81,000
_________________
Cost of goods manufactured $ 540,000
____________
_____________
Instructions
Complete the cost of goods manufactured schedule for hobbit company
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