Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Old MathJax webview Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory)
Old MathJax webview
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory) $70,000 Administrative rent (non-factory) 35,000 Advertising and promotion expense 41,000 Depreciation-administrative 22,000 Depreciation-factory 30,000 Depreciation-selling 17,000 Direct labor 175,000 Factory rent 18,000 Factory supplies used 12,000 Finished goods inventory January 1) 57,000 Finished goods inventory (December 31) 52,000 Indirect material used 14,000 Indirect labor 19,000 Materials inventory (January 1) 13,000 Materials inventory (December 31) 20,000 Net delivered cost of materials purchased 138,000 Other factory overhead 26,000 Sales 845,000 Sales salaries expense 72,000 Work in process inventory (January 1) 18,000 Work in process inventory (December 31) 31,000 Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers. Bourne Manufacturing Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2016 Direct material: Beginning materials inventory $ 0 0 $ Cost of material available 0 0 Less: Total materials used 0 Less: 0 0 0 P 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started