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Parmitan Corporation has provided the following data concerning last months manufacturing operations. Purchases of raw materials $ 30,000 Indirect materials included in manufacturing overhead $
Parmitan Corporation has provided the following data concerning last months manufacturing operations. |
Purchases of raw materials | $ | 30,000 |
Indirect materials included in manufacturing overhead | $ | 4,990 |
Direct labor | $ | 58,300 |
Manufacturing overhead applied to work in process | $ | 87,800 |
Underapplied overhead | $ | 4,160 |
Beginning | Ending | |||
Inventories: | ||||
Raw materials | $ | 11,200 | $ | 18,900 |
Work in process | $ | 54,000 | $ | 68,200 |
Finished goods | $ | 34,100 | $ | 43,500 |
Required: | |
1. | Prepare a schedule of cost of goods manufactured for the month. (Input all amounts as positive values.) |
Parmitan Corporation Schedule of Cost of Goods Manufactured | ||
Direct materials: | ||
(Click to select)Raw materials inventory, beginningFinished goods inventory, beginningEnding work in process inventoryRaw materials inventory, endingBeginning work in process inventory | $ | |
(Click to select)AddDeduct : (Click to select)Beginning work in process inventoryRaw materials inventory, endingFinished goods inventory, beginningPurchases of raw materialsEnding work in process inventory | ||
(Click to select)Total raw materials availableRaw materials inventory, endingRaw materials inventory, beginningBeginning work in process inventoryEnding work in process inventory | ||
(Click to select)AddDeduct : (Click to select)Raw materials inventory, endingEnding work in process inventoryBeginning work in process inventoryRaw materials inventory, beginningPurchases of raw materials | ||
Raw materials used in production | ||
(Click to select)AddDeduct : (Click to select)Raw materials inventory, endingEnding work in process inventoryBeginning work in process inventoryIndirect materials included in manufacturing overheadRaw materials inventory, beginning | $ | |
(Click to select)Raw materials inventory, endingPurchases of raw materialsRaw materials inventory, beginningEnding work in process inventoryDirect labor | ||
(Click to select)Purchases of raw materialsManufacturing overhead applied to work in process inventoryBeginning work in process inventoryRaw materials inventory, endingRaw materials inventory, beginning | ||
Total manufacturing costs | ||
(Click to select)AddDeduct : (Click to select)Raw materials inventory, endingRaw materials inventory, beginningPurchases of raw materialsBeginning work in process inventoryEnding work in process inventory | ||
(Click to select)AddDeduct : (Click to select)Beginning work in process inventoryPurchases of raw materialsRaw materials inventory, beginningEnding work in process inventoryRaw materials inventory, ending | ||
Cost of goods manufactured | $ | |
2. | Prepare a schedule of cost of goods sold for the month. (Input all amounts as positive values.) |
Parmitan Corporation Schedule of Cost of Goods Sold | |
(Click to select)Finished goods inventory, endingCost of goods available for saleFinished goods inventory, beginningOverapplied overheadCost of goods manufactured | $ |
(Click to select)DeductAdd : (Click to select)Overapplied overheadUnadjusted cost of goods soldCost of goods manufacturedCost of goods available for saleUnderapplied overhead | |
(Click to select)Cost of goods available for saleFinished goods inventory, endingCost of goods manufacturedFinished goods inventory, beginningUnadjusted cost of goods sold | |
(Click to select)DeductAdd : (Click to select)Overapplied overheadUnderapplied overheadFinished goods inventory, endingCost of goods available for saleCost of goods manufactured | |
(Click to select)Cost of goods manufacturedFinished goods inventory, endingFinished goods inventory, beginningUnadjusted cost of goods soldUnderapplied overhead | |
(Click to select)AddDeduct : (Click to select)Underapplied overheadFinished goods inventory, endingCost of goods available for saleOverapplied overheadCost of goods manufactured | |
Adjusted cost of goods sold | $ |
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