Question
he following data refers to Huron Corporation for the year 20x2. Sales revenue $ 2,107,000 Raw-material inventory, 12/31/x1 89,000 Purchases of raw material in 20x2
he following data refers to Huron Corporation for the year 20x2.
Sales revenue $ 2,107,000
Raw-material inventory, 12/31/x1 89,000
Purchases of raw material in 20x2 732,000
Raw-material inventory, 12/31/x2 59,000
Direct-labor cost incurred 474,000
Selling and administrative expenses 267,000
Indirect labor cost incurred 151,000
Property taxes on factory 90,000
Depreciation on factory building 126,000
Income tax expense 24,000
Indirect material used 45,000
Depreciation on factory equipment 60,000
Insurance on factory and equipment 40,000
Utilities for factory 70,000
Work-in-process inventory, 12/31/x1 0
Work-in-process inventory, 12/31/x2 40,000
Finished-goods inventory, 12/31/x1 35,000
Finished-goods inventory, 12/31/x2 40,000
Applied manufacturing overhead 577,500
Required:
1. Prepare Huron's schedule of cost of goods manufactured for 20x2.
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