- Beginning estimates: Manufacturing overhead cost Direct material dollars $ $ 248,000 155,000 $ 142.000 $ 150,000 $ 21,000 Transactions: Raw materials purchased Raw materials requisitioned e Utility bills 3 Costs for salaries and wages: Direct labor 5 Indirect labor Selling and admin salaries $ $ $ 216,000 90,000 145,000 $ $ $ Maintenance costs Advertising costs Depreciation For factory assets For sales and administrative assets Rental costs Space for factory Space for sales & administration Misc. selling and administrative costs Manufacturing overhead applied to jobs Cost of goods manufactured Sales on account Cost of goods sold 15,000 130,000 50,000 90% 10% 90,000 80% 20% 170.000 $ $ $ 590,000 $ 1,000,000 600,000 Inventory balances: Raw materials Work in process Finished goods U $ 18,000 24,000 35,000 $ - Job 218 Direct Materials Direct labor hours Direct labor rate per hour Units consumed % billed above cost $ 3,600 400 11 500 75% 3. SOUTHWORTH COMPANY Schedule of Cost of Goods Manufactured $ Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials Materials available for use (cell formula) Deduct: Raw materials inventory, ending Materials used in production Direct labor Mfg. overhead applied to work in process Total manufacturing costs Add: Work in process, beginning $ - - - - - Deduct: Work in process, ending Cost of goods manufactured $ Try again! 4. SOUTHWORTH COMPANY Schedule of Cost of Goods Sold $ Finished goods inventory, beginning Add: Cost of goods manufactured Goods available for sale Deduct: Finished goods inventory, ending Unadjusted Cost of goods sold Add: underapplied overhead Adjusted cost of goods sold $ 5. SOUTHWORTH COMPANY Income Statement $ $ Sales Cost of goods sold Gross margin Selling and administrative expenses: Salaries expense Advertising expense Depreciation expense Rent expense Miscellaneous expense Net operating income - $ Try again! 6. SOUTHWORTH COMPANY Price per Unit $ Direct materials Direct labor Manufacturing overhead cost applied Total manufacturing cost Add markup Total billed price of job 218 - $ Try again! Price per unit $