Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Cost of Goods Sold Budget The controller of Dross Ceramics Inc. is preparing a cost of goods sold budget for April. The controller assembled the
Cost of Goods Sold Budget The controller of Dross Ceramics Inc. is preparing a cost of goods sold budget for April. The controller assembled the following information for the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for April $ $ $ $ Estimated inventory, April Desired inventory, April Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for April $ $ $ Budgeted factory overhead costs for April: Indirect factory wages $ Depreciation of plant and equipment Power and light Indirect materials Total $ Workinprocess inventories: Estimated inventory, April $ Desired inventory, April Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, April $ $ $ $ Desired inventory, April Use the preceding information to prepare a cost of goods sold budget for April. Use the preceding information to prepare a cost of goods sold budget for April. DROSS CERAMICS INC. Cost of Goods Sold Budget For the Month Ending April Line Item Description Amount Amount Amount Finished goods inventory, April Workinprocess inventory, April Direct materials: Direct materials inventory, April Direct materials purchases Cost of direct materials available for use Less: Direct materials inventory, April Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period Less: Workinprocess inventory, April Cost of goods manufactured Cost of finished goods available for sale Less: Finished goods inventory, April Cost of goods sold
Cost of Goods Sold Budget The controller of Dross Ceramics Inc. is preparing a cost of goods sold budget for April. The controller assembled the following information for the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for April $ $ $ $ Estimated inventory, April Desired inventory, April Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for April $ $ $ Budgeted factory overhead costs for April: Indirect factory wages $ Depreciation of plant and equipment Power and light Indirect materials Total $ Workinprocess inventories: Estimated inventory, April $ Desired inventory, April Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, April $ $ $ $ Desired inventory, April Use the preceding information to prepare a cost of goods sold budget for April. Use the preceding information to prepare a cost of goods sold budget for April. DROSS CERAMICS INC. Cost of Goods Sold Budget For the Month Ending April Line Item Description Amount Amount Amount Finished goods inventory, April Workinprocess inventory, April Direct materials: Direct materials inventory, April Direct materials purchases Cost of direct materials available for use Less: Direct materials inventory, April Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period Less: Workinprocess inventory, April Cost of goods manufactured Cost of finished goods available for sale Less: Finished goods inventory, April Cost of goods sold
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started