Question
From the account balances listed below, prepare a schedule of cost of goods manufactured for Oriole Manufacturing Company for the month ended December 31, 2022.
From the account balances listed below, prepare a schedule of cost of goods manufactured for Oriole Manufacturing Company for the month ended December 31, 2022. (Assume all raw materials used were direct materials.)
| Account Balances | ||||
|---|---|---|---|---|
| Finished Goods Inventory, December 31 | $36,960 | |||
| Factory Supervisory Salaries | 10,560 | |||
| Income Tax Expense | 15,840 | |||
| Raw Materials Inventory, December 1 | 10,560 | |||
| Work In Process Inventory, December 31 | 13,200 | |||
| Sales Salaries Expense | 12,320 | |||
| Factory Depreciation Expense | 7,040 | |||
| Finished Goods Inventory, December 1 | 30,800 | |||
| Raw Materials Purchases | 92,400 | |||
| Work In Process Inventory, December 1 | 22,000 | |||
| Factory Utilities Expense | 5,280 | |||
| Direct Labor | 61,600 | |||
| Raw Materials Inventory, December 31 | 16,720 | |||
| Sales Returns and Allowances | 4,400 | |||
| Indirect Labor | 18,480 | |||
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
16th Edition
78110939, 978-0078110931
