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Kevinkwee Company manufactures staplers. At the beginning of October 2023, the following information was supplied by its accountant: Direct materials inventory $56,470 Work in process
Kevinkwee Company manufactures staplers. At the beginning of October 2023, the following information was supplied by its accountant: Direct materials inventory $56,470 Work in process inventory $11,640 Finished goods inventory $11,730 During October, direct labor cost was $25,610, direct materials purchases were $81,500, and total overhead cost was $252,470. The inventories at the end of October were: Direct materials inventory $18,510 Work in process inventory $7,040 Finished goods inventory $9,870 Do not enter dollar signs or commas in the input boxes. Do not use the negative sign. a) Prepare a cost of goods manufactured statement for October. Kevinkwee Company Statement of Cost of Goods Manufactured For the Month Ending October 31, 2023 Beginning work in process Answer Direct materials: Beginning inventory Answer Purchases Answer Materials available for use Answer Ending Inventory Answer Direct materials used in production Answer Direct labor Answer Manufacturing overhead Answer Ending work in process Answer Cost of goods manufactured Answer b) Calculate the cost of goods sold for October. Cost of goods manufactured Answer Beginning finished goods inventory Answer Ending finished goods inventory Answer Cost of goods sold
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