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: Inventories Beginning Ending Raw materials $ 2 6 , 3 0 0 $

Bledsoe Corporation has provided the following data for the month of November:
Inventories Beginning Ending
Raw materials $ 26,300 $ 22,300
Work in process $ 18,300 $ 11,300
Finished Goods $ 49,300 $ 57,300
Additional information:
Raw materials purchases $ 73,300
Direct labour cost $ 93,300
Manufacturing overhead cost incurred $ 43,430
Indirect materials included in manufacturing overhead cost incurred $ 4,130
Manufacturing overhead cost applied to Work in Process $ 42,300
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.
Complete this question by entering your answers in the table below.
Schedule of COGM
Schedule of COGS
Prepare a Schedule of Cost of Goods Sold.
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
pare a Schedule of Cost of Goods Manufactured.
BLEDSOE CORPORATION
Schedule of Cost of Goods Manufactured
Direct materials:
Total raw materials available for use 0
Raw materials used in production 0
Direct materials used in production 0
Total manufacturing costs added to production 0
Total manufacturing costs to account for 0
Cost of goods manufactured $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

Students also viewed these Accounting questions