Question
Kevinkwee Company manufactures staplers. At the beginning of October 2023, the following information was supplied by its accountant: Direct materials inventory $69,740 Work in process
Kevinkwee Company manufactures staplers. At the beginning of October 2023, the following information was supplied by its accountant: Direct materials inventory $69,740 Work in process inventory $14,380 Finished goods inventory $14,490 During October, direct labor cost was $31,640, direct materials purchases were $100,660, and total overhead cost was $311,840. The inventories at the end of October were: Direct materials inventory $22,860 Work in process inventory $8,700 Finished goods inventory $12,190 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
) 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 | Answer |
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