Instructions

(A) Prepare a cost of goods manufactured schedule (below) using the data ABOVE.

(B)

(Assume all raw materials used were direct materials.)

P15-4B This data is from the records of Moxie Co. for the year ended December 31, 2017. Raw Materials Inventory 1/1/17 47,000 Factory Insurance 7,400 Raw Materials Inventory 12/31/17 44,200 Factory Mach. Deprec. 7,700 Finished Goods Inventory 1/1/17 85,000 Factory Utilities 12,900 Finished Goods Inventory 12/31/17 57,800 Office Utilities Expense 8,600 Work in Process Inventory 1/1/17 9,500 Plant Managers Salary 60,000 Work in Process Inventory 12/31/17 8,000 Factory Property Taxes 6,100 Direct Labor 145,100 Factory Repairs 800 Indirect Labor 18,100 Raw Materials Purchase 62,500 MOXIE COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2017 Work in process inventory, January 1 Direct Materials: Total Raw Materials Available for Use 109,500 Direct Materials Used Direct Labor Manufacturing Overhead: 113,000 Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process