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Cost of Goods Manufactured and Sold The following data relate to three independent production periods of Randolph Manufacturing Company. Missing data are indicated by question
Cost of Goods Manufactured and Sold The following data relate to three independent production periods of Randolph Manufacturing Company. Missing data are indicated by question marks. A B C Materials: Beginning inventory $ $ $ Purchases Ending inventory Total material used Direct labor Manufacturing overhead: Indirect material Indirect labor Other Total manufacturing overhead Work in process inventories: Beginning Ending Finished goods inventories: Beginning Ending Cost of goods manufactured Cost of goods sold 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 A B C Direct Material: Beginning materials inventory $ $ $ Cost of materials purchased Answer Answer Answer Cost of material available Answer Answer Answer Less: Ending materials inventory Answer Answer Answer Total material used Answer Answer Answer Less: Indirect material used Answer Answer Answer Direct material used Answer Answer Answer Direct labor Manufacturing overhead: Indirect material Answer Answer Answer Indirect labor Answer Answer Answer Other manufacturing overhead Answer Answer Answer Total manufacturing overhead Answer Answer Answer Total manufacturing costs Answer Answer Answer Add: Beginning work in process inventory Answer Answer Answer Total cost of work in process Answer Answer Answer Less: Ending work in process inventory Answer Answer Answer Cost of goods manufactured Answer Answer Answer Add: Beginning finished goods inventory Answer Answer Answer Cost of goods available Answer Answer Answer Less: Ending finished goods inventory Answer Answer Answer Cost of goods sold Answer Answer Answer
Cost of Goods Manufactured and Sold
The following data relate to three independent production periods of Randolph Manufacturing Company. Missing data are indicated by question marks.
A B C
Materials:
Beginning inventory $ $ $
Purchases
Ending inventory
Total material used
Direct labor
Manufacturing overhead:
Indirect material
Indirect labor
Other
Total manufacturing overhead
Work in process inventories:
Beginning
Ending
Finished goods inventories:
Beginning
Ending
Cost of goods manufactured
Cost of goods sold
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
A B C
Direct Material:
Beginning materials inventory $ $ $
Cost of materials purchased Answer
Answer
Answer
Cost of material available Answer
Answer
Answer
Less: Ending materials inventory Answer
Answer
Answer
Total material used Answer
Answer
Answer
Less: Indirect material used Answer
Answer
Answer
Direct material used Answer
Answer
Answer
Direct labor
Manufacturing overhead:
Indirect material Answer
Answer
Answer
Indirect labor Answer
Answer
Answer
Other manufacturing overhead Answer
Answer
Answer
Total manufacturing overhead Answer
Answer
Answer
Total manufacturing costs Answer
Answer
Answer
Add: Beginning work in process inventory Answer
Answer
Answer
Total cost of work in process Answer
Answer
Answer
Less: Ending work in process inventory Answer
Answer
Answer
Cost of goods manufactured Answer
Answer
Answer
Add: Beginning finished goods inventory Answer
Answer
Answer
Cost of goods available Answer
Answer
Answer
Less: Ending finished goods inventory Answer
Answer
Answer
Cost of goods sold Answer
Answer
Answer
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