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Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 26,700 $ 22,700 Work in process $ 18,700
Bledsoe Corporation has provided the following data for the month of November:
Beginning | Ending | ||||||||
Raw materials | $ | 26,700 | $ | 22,700 | |||||
Work in process | $ | 18,700 | $ | 11,700 | |||||
Finished Goods | $ | 49,700 | $ | 57,700 | |||||
Additional information:
Raw materials purchases | $ | 73,700 | |||||
Direct labor cost | $ | 93,700 | |||||
Manufacturing overhead cost incurred | $ | 43,870 | |||||
Indirect materials included in manufacturing overhead cost incurred | $ | 4,170 | |||||
Manufacturing overhead cost applied to Work in Process | $ | 42,700 | |||||
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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