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I am trying to figure out the final spots. I added beginning inventory + Purchased then - total overhead. not correct. I need a little
I am trying to figure out the final spots. I added beginning inventory + Purchased then - total overhead. not correct. I need a little guidance.
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Materials Work in process Finished goods January 1 January 31 134,750 $114,540 77,890 77,890 91,630 70,070 Direct labor Materials purchased during January Factory overhead incurred during January: $242,550 258,720 25,870 15,630 5,390 4,310 3,770 7,010 a. Prepare a cost of goods manufactured statement for January. Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 a. Prepare a cost of goods manufactured statement for January. Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 Work in process inventory, January 1 91,630 V Direct materials Materials inventory, January Purchases Cost of materials available for use Materials inventory, January 134,750 V 258,720 V 393,470'V 114,540 Cost of direct materials used in production 278,930 Direct labor 242,550 V Factory overhead Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs 25,870 15,630 5,390 4,310 V 3,770 7,010 61,980 V Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs Work in inventory, January 31 Cost of goods manufactured Feedback Check My Work a. Add the beginning materials and purchases and subtract the ending materials. Add direct labor and factory overhead. This will Total manufacturing costs incurred during January Total manufacturing costs Work in process inventory, January 31 V Cost of goods manufactured Feedback Y Check My Work a. Add the beginning materials and purchases and subtract the ending materials. Add direct labor and factory overhead. This will give total manufacturing costs. Then, add the total manufacturin b. Determine the cost of goods sold for January. Feedback Check My Work b. Add the cost of goods manufactured from (a) to the beginning finished goods. Subtract the ending finished goods. Feedback Y Check My Work Partially correctStep by Step Solution
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