Question
How would would i fill out the Schedule of Costs of Goods Manufactured? Annapolis Company manufactures quality boating apparel.The following selected financial information for the
How would would i fill out the Schedule of Costs of Goods Manufactured?
Annapolis Company manufactures quality boating apparel.The following selected financial information for the fiscal year 2020 is provided:
Item
Amount
Sales
$850,000
Beginning Raw Material Inventory
74,000
Direct Material Purchased
318,000
Factory Overhead
90,000
Finished Goods Inventory - January 1
144,000
Work in Process - January 1
74,000
Work in Process - December 31
98,000
Ending Raw Material Inventory
58,000
Finished Goods Inventory - December 31
168,000
Net Income
65,000
Direct Labor
155,000
Cost of Goods Sold
531,000
Use this information toprepareda detailed Schedule of Costs of Goods Manufactured for FY 2020: (Round dollar values & enter as whole dollars only.Properly title your statement.)
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