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Answer is complete but not entirely correct. SAN FERNANDO FASHIONS COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x2 Direct

Answer is complete but not entirely correct.

SAN FERNANDO FASHIONS COMPANY
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20x2
Direct material:
Raw-material inventory, January 1selected answer correct $40,000selected answer correct
Add: Purchases of raw materialselected answer correct 160,000selected answer correct
Raw material available for useselected answer correct $200,000selected answer correct
Less: Raw-material inventory, December 31selected answer correct 25,000selected answer correct
Raw material usedselected answer correct $160,000selected answer incorrect
Direct laborselected answer correct 180,000selected answer correct
Manufacturing overhead:
Depreciation: plant and equipmentselected answer correct 40,000selected answer correct
Utilities: plantselected answer correct 40,000selected answer correct
Indirect laborselected answer correct 12,000selected answer correct
Indirect materialselected answer correct 8,000selected answer correct
Other manufacturing overheadselected answer correct 60,000selected answer correct
not attempted not attempted
not attempted not attempted
Total manufacturing overhead 160,000
Total manufacturing costs $500,000
Add: Work-in-process inventory, January 1selected answer correct 32,000selected answer correct
Subtotal 552,000selected answer incorrect
Less: Work-in-process inventory, December 31selected answer correct 30,000selected answer correct
Cost of goods manufactured $522,000selected answer incorrect

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