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Clarkson Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2018: (Click the icon to view year-end information.) Requirements 1.
Clarkson Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2018: (Click the icon to view year-end information.) Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Clarkson manufactured 2,880 lamps for the year? Requirement 1. Use the information to prepare a schedule of cost of goods manufactured. Clarkson, Corp. Schedule of Cost of Goods Manufactured Year Ended December 31, 2018 Direct Materials Used: Direct Materials Used Manufacturing Overhead: Total Manufacturing Overhead Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured Year Ended December 31, 20 Beginning Direct Materials Beginning Work-in-Process Inventory Depreciation, Plant Building and Equipment Direct Labor Direct Materials Available for Use Ending Direct Materials Ending Work-in-Process Inventory Indirect Labor Insurance on Plant Purchases of Direct Materials Repairs and Maintenance-Plant Requirement 2. What is the unit product cost if Clarkson manufactured 2,880 lamps for the year? Cost per lamp = Beginning Ending $ 52,000 $ 30,000 106,000 69,000 48,000 54,000 Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance plant Indirect labor Direct labor Administrative expenses $ 20,000 160,000 29,000 42,000 7,000 31,000 126,000 50,000
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