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Cost of Goods Manufactured and Sold The following data relate to three independent production periods of Riverside Manufacturing Company. Missing data are indicated by question
Cost of Goods Manufactured and Sold The following data relate to three independent production periods of Riverside Manufacturing Company. Missing data are indicated by question marks. A Materials: $104 $328 $220 Beginning inventory Purchases ?1,400 1,000 Ending inventory 148 200 Total material used 660 880 Direct labor 1,160 1,920 1,600 Manufacturing overhead: Indirect material 192 ?240 Indirect labor 320 300 700 Other ? 400 680 Total manufacturing overhead 1,040 960 Work in process inventories Beginning 180 520 Ending 140 ? 200 Finished goods inventories: Beginning 800 160 Ending 670 240 660 Cost of goods manufactured 2,768 Cost of goods sold 2,678 4,548 Using the above data, determine the missing amounts. (You should set up a schedule of cost of goods manufactured and sold, fill in the known data, and calculate the missing amounts.) Do not use negative signs with any of your answers. Schedule of Cost of Goods Manufactured and Sold C Direct Material: Beginning materials inventory $104 $328 S 220 Cost of materials purchased Cost of material available Less: Ending materials inventory Total material used Less: Indirect material used Direct material used Direct labor 1,160 1,920 1,600 Manufacturing overhead: Indirect material Indirect labor Other manufacturing averhead Total manufacturing overhead Total manufacturing costs Add: Beginning work in pracess inventory Total cost of work in process Less: Ending work in process inventory Cost of goods manufactured Add: Beginning finished goods inventory Cost of goods available Less: Ending finished goods inventory Cost of goods sold
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