Question
Bonita Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Bonita's CFO, has presented you with the following cost information: Direct Materials Inventory, beginning
Bonita Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Bonita's CFO, has presented you with the following cost information:
Direct Materials Inventory, beginning $88,000
Direct Materials Inventory, ending $127,000
Work in Process Inventory, beginning $147,000
Work in Process Inventory, ending $97,500
Direct labor $787,000
Direct materials purchases $982,000
Insurance, factory $57,600
Depreciation, factory $20,800
Depreciation, executive offices $15,500
Indirect labor $214,000
Utilities, factory $19,500
Utilities, executive offices $8,700
Property taxes, factory $16,000
Property taxes, executive offices $12,900
What is cost of goods manufactured schedule for Mr. Clemens?
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Step: 1
To calculate the cost of goods manufactured schedule we need to determine the total manufacturing costs incurred during the period The cost of goods m...Get Instant Access to Expert-Tailored Solutions
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Step: 3
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