Question
Kelowna Plumbing Supplies shows the following data related to its December 31, 2020 fiscal year: Raw materials inventory, January 1, 2020 $5,000 Raw materials inventory,
Kelowna Plumbing Supplies shows the following data related to its December 31, 2020 fiscal year:
Raw materials inventory, January 1, 2020
$5,000
Raw materials inventory, December 31, 2020
8,000
Work in process inventory, January 1, 2020
23,000
Work in process inventory, December 31, 2020
21,000
Finished goods inventory, January 1, 2020
16,000
Finished goods inventory, December 31, 2020
10,000
Advertising
56,000
Factory supervisor's salary
42,000
Company president's salary
85,000
Property taxes - factory
25,000
Depreciation - factory
35,000
Factory maintenance
7,000
Sales commissions
32,000
Depreciation - office
2,000
Utilities expense - factory
23,000
Utilities expense - office
11000
Purchases of raw materials
148,000
Direct labour
160,000
Required:
Based on the information above, prepare Schedule of Cost of Goods Manufactured
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Intermediate Accounting
Authors: David Spiceland
11th Edition
1264134525, 9781264134526
