Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 25,800 $ 21,800 Work in process $ 17,800

Bledsoe Corporation has provided the following data for the month of November:

Beginning Ending
Raw materials $ 25,800 $ 21,800
Work in process $ 17,800 $ 10,800
Finished Goods $ 48,800 $ 56,800

Additional information:

Raw materials purchases $ 72,800
Direct labor cost $ 92,800
Manufacturing overhead cost incurred $ 42,880
Indirect materials included in manufacturing overhead cost incurred $ 4,080
Manufacturing overhead cost applied to Work in Process $ 41,800

Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.

Required:

Please 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:
Beginning materials inventory
Add: Purchases of raw materials
Raw materials available for use 0
Less: Ending raw materials inventory
Raw materials used in production 0
Less: Indirect materials included in manufacturing overhead incurred $0
Manufacturing overhead applied to work in process
Direct labor
Total manufacturing costs 0
Add: Beginning work in process inventory
0
Less: Ending work in process inventory
Cost of goods manufactured $0

BLEDSOE CORPORATION
Schedule of Cost of Goods Sold
Beginning finished goods inventory
Cost of goods available for sale 0
Unadjusted cost of goods sold 0
Adjusted cost of goods sold $0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Computers In Medical Audit A Guide Commissioned By The West Midlands Regional Health Authority

Authors: R. Tyndall, Michael Rigby, Anne McBride, Chris Shiels

2nd Edition

1853151777, 978-1853151774

More Books

Students also viewed these Accounting questions