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Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 26,500 $ 22,500 Work in process $
Bledsoe Corporation has provided the following data for the month of November:
Inventories: | Beginning | Ending | |||||||
Raw materials | $ | 26,500 | $ | 22,500 | |||||
Work in process | $ | 18,500 | $ | 11,500 | |||||
Finished Goods | $ | 49,500 | $ | 57,500 | |||||
Additional information:
Raw materials purchases | $ | 73,500 | |||||
Direct labor cost | $ | 93,500 | |||||
Manufacturing overhead cost incurred | $ | 43,650 | |||||
Indirect materials included in manufacturing overhead cost incurred | $ | 4,150 | |||||
Manufacturing overhead cost applied to Work in Process | $ | 42,500 | |||||
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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