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Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 25,700 $ 21,700 Work in process $
Bledsoe Corporation has provided the following data for the month of November:
Inventories: | Beginning | Ending | |||||||
Raw materials | $ | 25,700 | $ | 21,700 | |||||
Work in process | $ | 17,700 | $ | 10,700 | |||||
Finished Goods | $ | 48,700 | $ | 56,700 | |||||
Additional information:
Raw materials purchases | $ | 72,700 | |||||
Direct labor cost | $ | 92,700 | |||||
Manufacturing overhead cost incurred | $ | 42,770 | |||||
Indirect materials included in manufacturing overhead cost incurred | $ | 4,070 | |||||
Manufacturing overhead cost applied to Work in Process | $ | 41,700 | |||||
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.
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