Name: Emma Boughner ACCT 2550 - Tutorial Handout: January 14, 2020 (Chapter 2) Question 1: Lompac Products Ltd. manufactures a variety of products in its factory. Data for the most recent month of operations is below: 120.000 0,000 Beginning Raw Materials inventory Purchases of Raw Materials Ending Material Direct Labour 245.000 $ $ 0.00 Masacturing Overhead Beginning Work in Process inventory Ending Work in Process o ry $ 210.000 $ 30.000 Required: Complete the following schedule of cost of goods manufactured for Lompac for the most recent month (refer to Exhibit 2-15): Lompac Products Ltd. Schedule of Cost of Goods Manufactured For the Most Recent Month 210,000 170,000 870,000 1.010.000 150,000 Beginning work in process inventory Add: Direct materials used * Beginning raw materials inventory * Purchases of raw materials Raw materials available for use Ending raw materials inventory Direct materials costs Direct labour costs Manufacturing overhead costs Total manufacturing costs for the month Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 315.000 245.000 560,000 $1,695,000 |(30,000)