Cost of Goods Manufactured, Cost of Goods Sold, and Impact on Financial Statements

The accounting information system of Bosch, Inc., reported the following cost and inventory data for the year:

Costs Incurred:

Raw Materials Purchased: $125,000

Direct Labor: $75,000

Indirect Labor: $40,000

Equipment Maintenance: $10,000

Insurance on Factory: $12,000

Rent on Factory: $30,000

Equipment Depreciation: $20,000

Factory Supplies: $11,000

Advertising Expenses: $15,000

Selling and Administrative Expenses: $21,000

Raw Materials: Beginning: $10,000 Ending: $17,000

Work in Process: Beginning: $20,000 Ending: $31,000

Finished Goods: Beginning: $30,000 Endind: $25,000

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Question #1: Calculate the Cost of Goods Manufactured

Question #2: Calculate the Cost of Goods Sold

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