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Carlton Manufacturing Company provided the following details about operations in February: Purchases of raw materials Maintenance, factory Direct labour Depreciation, factory equipment Indirect materials, factory
Carlton Manufacturing Company provided the following details about operations in February: Purchases of raw materials Maintenance, factory Direct labour Depreciation, factory equipment Indirect materials, factory Selling and administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment Advertising expenses Rent, factory building $ 148,000 38,800 33,700 57,400 3,300 44,300 27,200 18,100 4,300 21,200 110,500 The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows: End of Month Raw materials Work in process Finished goods Beginning ning of Month $ 31,000 26,400 18,000 Raw materials used in production cost $155,520, total overhead costs for the year were $188,720, the goods available for sale totalled $384,000, and the cost of goods sold totalled $335,500. Required: 1-a. Prepare a schedule of cost of goods manufactured of the company's income statement for the year. CARLTON MANUFACTURING Schedule of Cost of Goods Manufactured Direct materials: Manufacturing overhead: Total overhead costs Total manufacturing costs Cost of goods manufactured
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