Question
Misco Speaker Company manufactures portable bluetooth speakers. The following selected financial information for the fiscal year 2016 is provided: (amounts are in thousands) Item Amount
Misco Speaker Company manufactures portable bluetooth speakers. The following selected financial information for the fiscal year 2016 is provided: (amounts are in thousands) Item Amount Sales $150,000 Cost of Goods Manufactured 75,650 Direct Material Purchased 36,200 Factory Overhead 10,950 Work in Process - January 1 32,600 Work in Process - December 31 17,420 Direct Material - December 31 12,000 Finished Goods Inventory - December 31 59,000 Net Income 20,670 Direct Materials used 34,500 Cost of Goods Sold 58,000 Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2016: (Round dollar values & enter as whole dollars only.) Misco Speaker Company Statement of Costs of Goods Manufactured for the year ended December 31, 2016 Direct Materials Direct Material Purchased
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