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Need help with formulas. Please show formulas. P16 * MANUFACTURING ACCOUNTING (MFG) LEARNING OBJECTIVES Prepare a schedule of cost of goods manufactured and sold. .

Need help with formulas.

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Please show formulas. P16 * MANUFACTURING ACCOUNTING (MFG) LEARNING OBJECTIVES Prepare a schedule of cost of goods manufactured and sold. . Calculate changes in labor cost needed to achieve production goals. Alter the worksheet to include an income statement for a manufacturing firm. . Create a chart showing the dollar amount of materials, labor, and overhead. PROBLEM DATA The following information is for Twisp Industries for the year ended December 31, 2011: Depreciation- equipment $ 180,000 Direct labor 2,568,000 Direct materials inventory, 1/1/11 366,000 Direct materials inventory, 12/31/11 372,000 Factory rent 305,640 Finished goods, 1/1/11 528,000 Finished goods, 12/31/11 690,000 Indirect labor 150,000 Indirect materials 105,000 Purchases of direct materials 2,580,720 Work in process, 1/1/11 121,200 Work in process, 12/31/11 1 14,660 REQUIREMENT 1. You have been asked to prepare a schedule of cost of goods manufactured and sold for the year just ended. Review the worksheet MFG that follows these requirements. 2. Open the file MFG from the website for this book at cengagebrain.com. Enter the formulas and titles where requested on the worksheet. The cells that contain zeros now will change to nonzero values as formulas are entered. Enter your name in cell A1. Save the file as MFG2. Print the worksheet when done. Also print your formulas. Check figure: Cost of goods sold (cell D46), $5,727,900

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