Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chapter 02 Using the information below, prepare a Schedule of Cost of Goods Manufactured. - 8 marks Purchases of raw materials $95,000.00 Raw materials inventory,
Chapter 02
- Using the information below, prepare a Schedule of Cost of Goods Manufactured. - 8 marks
| Purchases of raw materials | $95,000.00 |
| Raw materials inventory, beginning | $9,000.00 |
| Raw materials inventory, ending | $16,000.00 |
| Depreciation, factory | $45,000.00 |
| Insurance, factory | $7,500.00 |
| Direct Labour | $68,000.00 |
| Maintenance factory | $33,000.00 |
| Administrative Expenses | $65,000.00 |
| Sales | $472,000.00 |
| Utilities, factory | $29,000.00 |
| Supplies, factory | $3,000.00 |
| Selling expenses | $90,000.00 |
| Indirect labour | $72,000.00 |
| Work in Process inventory, beginning | $5,000.00 |
| Work in Process inventory, ending | $26,000.00 |
| Finished Goods inventory, beginning | $12,000.00 |
| Finished Goods inventory, ending | $45,000.00 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
8th Edition
1119791057, 978-1119791058
