Question
Classic Sound is a start-up company that produces vinyl records for numerous record labels worldwide. The company has two full-time employees working in the production
Classic Sound is a start-up company that produces vinyl records for numerous record labels worldwide. The company has two full-time employees working in the production department while the CEO splits her time 80/20% between developing new business and overseeing the production process. Information taken from the accounting records for the first three months of operations is shown below. Beginning raw materials inventory $ 0Purchases of raw materials 50,500Ending raw materials inventory 25,250Direct labour 40,450Manufacturing overhead 30,350Beginning work in process inventory 0Ending work in process inventory 5,100Purchase of production equipment 105,000Rent for production facility 9,150
Do a schedule of cost of goods manufactured for the company for the month
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