Cost of Goods Manufactured and Sold

Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year:

Direct labor cost	$495,900
Purchases of direct materials	378,890
Freight-in on materials	7,500
Factory supplies used	18,500
Factory utilities	54,000
Commissions paid	78,983
Factory supervision and indirect labor	165,000
Advertising	145,600
Materials handling	16,900
Work-in-process inventory, January 1	201,000
Work-in-process inventory, December 31	117,400
Direct materials inventory, January 1	37,200
Direct materials inventory, December 31	34,600
Finished goods inventory, January 1	59,200
Finished goods inventory, December 31	62,700

Required:

1. Prepare a cost of goods manufactured statement.

Anglin Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Direct materials:
Beginning inventory	$
Add: Purchases
Add: Freight-in on materials
Materials available	$
Direct materials used in production		$
Manufacturing overhead:
	$
Total overhead costs
Total manufacturing costs added		$
Cost of goods manufactured		$

2. Prepare a cost of goods sold statement.

Anglin Company
Statement of Cost of Goods Sold
For the Year Ended December 31
	$
Add: Beginning finished goods inventory
Cost of goods available for sale	$
Less: Ending finished goods inventory
Cost of goods sold	$