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Help 1 System Announcements CALCULATOR PRINTER VERSION BACK NEXT Challenge Exercise 19-02 a-b, c1 (Part Level Submission) An analysis of the accounts of Sheridan Company
Help 1 System Announcements CALCULATOR PRINTER VERSION BACK NEXT Challenge Exercise 19-02 a-b, c1 (Part Level Submission) An analysis of the accounts of Sheridan Company reveals the following manufacturing cost data for the month ended September 30, 2020. Inventories Raw materials Work in process Finished goods Beginning $12,500 6,800 9,600 Ending $11,000 5,400 11,700 Costs incurred: raw materials purchases $63,700, direct labor $50,800, manufacturing overhead $27,400. The specific overhead costs were: indirect labor $6,900, factory insurance $4,700, machinery depreciation $6,200, machinery repairs $2,500, factory utilities $4,000, miscellaneous factory costs $1,890. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended September 30, 2020. Sheridan Co. Cost of Goods Manufacturing Schedule For the Year Ended September 30, 2020 CALCULATOR PRINTER VERSION BACK NEXT BRAMBLE COMPANY Cost of Goods Manufactured Schedule $220,220 Work in process (1/1) Direct materials Raw materials inventory (1/1) 164,190 Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used 30,540 $183,180 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 25,480 45,000 72,670 143,150 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 87,980 $544,910 ^5 12:53 PM la 10) 11/6/2019 2
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