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Hoping someone can correct the errors I made in this problem and can explain where and why I was wrong. Thank you so much in
Hoping someone can correct the errors I made in this problem and can explain where and why I was wrong. Thank you so much in advance!
1 Bledsoe Corporation has provided the following data for the month of November: 50 points Inventories Raw materials Work in process Finished Goods Beginning $ 25,700 $ 17,700 $ 48,700 Ending $ 21,700 $ 10,700 $ 56,700 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to work in Process $ 72,700 $ 92,700 $ 42,770 $ 4,070 $ 41,700 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Complete this question by entering your answers in the table below. Schedule of COGM Schedule of COGS Prepare a Schedule of Cost of Goods Manufactured. $ 17,700 BLED SOE CORPORATION Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials Beginning materials inventory $ Add: Purchases of raw materials Total raw materials available for use Deduct: Ending raw materials inventory Raw materials used in production Deduct: Indirect materials included in manufacturing overhead incurred Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Deduct: End work in process inventory Cost of goods manufactured 25,700 72,700 98,400 21,700 76.700 4,070 72.630 92.700 41,700 207,030 224,730 10,700 214,030 $ Schedule of COGM Schedule of COGS >Step by Step Solution
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