Question
Part 3A. Information for Stanton, Inc., as of December 31 follows. Prepare a schedule of cost of goods manufactured for the year ended December 31.
Part 3A. Information for Stanton, Inc., as of December 31 follows. Prepare a schedule of cost of goods manufactured for the year ended December 31. (7 Points)
| Administrative salaries | $ 35,000 |
| Depreciation of factory equipment | 25,000 |
| Depreciation of delivery vehicles | 6,000 |
| Direct labor | 58,000 |
| Factory supplies used | 9,000 |
| Finished goods inventory, January 1 | 57,000 |
| Finished goods inventory, December 31 | ? |
| Factory insurance | 15,500 |
| Interest expense | 12,000 |
| Factory utilities | 14,000 |
| Factory maintenance | 7,500 |
| Raw materials inventory, January 1 | 6,000 |
| Raw materials inventory, December 31 | 3,000 |
| Raw material purchases | 125,000 |
| Rent on factory building | 25,000 |
| Repairs of factory equipment | 11,500 |
| Sales commissions | 37,500 |
| Work in Process inventory, January 1 | 5,500 |
| Work in Process inventory, December 31 | 2,900 |
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Using Microcomputers In Managerial Accounting
Authors: George Hildebrand
1st Edition
0938188275, 978-0938188278
