Question
One of Toyota Company's subsidiaries reports the following account balances for the year ended December 31, 2019 (in thousands). ($) Direct materials Jan. 1, 2019
One of Toyota Company's subsidiaries reports the following account balances for
the year ended December 31, 2019 (in thousands).
($)
Direct materials Jan. 1, 2019 20,800
Direct materials Dec. 31, 2019 22,250
Work in processJan. 1, 20195,700
Work in processDec. 31, 20194,650
Finished goods Jan. 1, 2019 102,500
Finished goods Dec. 31, 2019105,250
Direct materials purchased452,500
Direct manufacturing labor 335,750
Plant - leasing costs4,071
Property taxes on plant and equipment 960
Plant wide - utilities13,500
Fire insurance on plant and equipment 500
Depreciation - plant equipment 5,400
Amortization - plant leasehold improvements 2,200
Indirect labor52,603
Miscellaneous plant overhead 22,126
Revenue 1, 450,000
Marketing, distribution and customer service costs 340,500
General and administration costs 150,800
Prepare :
- A Schedule of Cost of Goods Manufactured, in good form, for the year ended
December 31, 2019.
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