Question
Following activities during 2015: Direct Materials: Beg. Inventory $40,000 Purchases $123,200 Ending Inventory $20,800 Direct manufacturing labor $32,000 Manufacturing overhead $24,000 Beg. WIP inventory $1,600
Following activities during 2015:
| Direct Materials: | |
| Beg. Inventory | $40,000 |
| Purchases | $123,200 |
| Ending Inventory | $20,800 |
| Direct manufacturing labor | $32,000 |
| Manufacturing overhead | $24,000 |
| Beg. WIP inventory | $1,600 |
| Ending WIP inventory | $8,000 |
| Beg. Finished goods inventory | $48,000 |
| Ending finished goods inventory | $32,000 |
a. Prepare the schedule of the cost of goods manufactured for 2015.
b. What is the cost of goods sold for 2015?
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Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
