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Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,420 Direct materials used 252,400 Work in process
Axteks Corporation has the following cost records for the year ended December 31, 2020:
Indirect factory labour | $5,420 | ||
Direct materials used | 252,400 | ||
Work in process (1/1/2020) | 31,800 | ||
Work in process (12/31/2020) | 27,200 | ||
Finished goods (1/1/2020) | 35,900 | ||
Finished goods (12/31/2020) | 28,500 | ||
Factory utilities | 41,100 | ||
Depreciation, factory equipment | 34,300 | ||
Direct labour | 300,900 | ||
Indirect materials | 22,600 | ||
Factory managers salary | 63,300 | ||
Selling and administrative expenses | 341,200 | ||
Net sales | 1,234,000 | ||
Factory machinery rent | 42,700 |
Prepare a cost of goods manufactured schedule for 2020.
Axteks Corporation Cost of Goods Manufactured Year Ended December 31, 2020 | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | $ | |||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | $ | |||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials: | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | $ | |||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
AddLess: Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | ||||||
Cost of Goods ManufacturedDirect LabourDirect Materials UsedDepreciation, Factory EquipmentFactory Machinery RentFactory UtilitiesIndirect Factory LabourManufacturing OverheadFactory Managers SalaryTotal Cost of Work in ProcessTotal Manufacturing CostTotal Manufacturing OverheadWork in Process, January 1Work in Process, December 31Raw Materials, January 1Raw Materials, December 31Indirect Materials | $ |
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