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Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 25,400 $ 21,400 Work in process $
Bledsoe Corporation has provided the following data for the month of November:
Inventories: | Beginning | Ending | |||||||
Raw materials | $ | 25,400 | $ | 21,400 | |||||
Work in process | $ | 17,400 | $ | 10,400 | |||||
Finished Goods | $ | 48,400 | $ | 56,400 | |||||
Additional information:
Raw materials purchases | $ | 72,400 | |||||
Direct labor cost | $ | 92,400 | |||||
Manufacturing overhead cost incurred | $ | 42,440 | |||||
Indirect materials included in manufacturing overhead cost incurred | $ | 4,040 | |||||
Manufacturing overhead cost applied to Work in Process | $ | 41,400 | |||||
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.
BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Direct materials: Raw materials available for use Raw materials used in production Total manufacturing costs Cost of goods manufactured $ 0 BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory Cost of goods available for sale Unadjusted cost of goods sold Adjusted cost of goods sold 0
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