Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Partially correct answer icon Your answer is partially correct. An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured

Partially correct answer icon

Your answer is partially correct.

An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Ayayai Company. Assume all raw materials are direct materials.

AYAYAI COMPANY Cost of Goods Manufactured Schedule choose the accounting period For the Year Ended December 31, 2022For the Month Ended December 31, 2022December 31, 2022

Work in process (1/1)

$168,000

Direct materials

Raw materials inventory (1/1)

$enter a dollar amount

Add: Raw materials purchases

126,400

Total raw materials available for use

enter a total of the two previous amounts

Less: Raw materials inventory (12/31)

18,000

Direct materials used

$144,000

Direct labor

enter a dollar amount

Manufacturing overhead

Indirect labor

14,400

Factory depreciation

28,800

Factory utilities

54,400

Total overhead

97,600

Total manufacturing costs

enter a total amount for the first part

Total cost of work in process

enter a total amount for all two parts

Less: Work in process (12/31)

64,800

Cost of goods manufactured

$432,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fintech For Finance Professionals

Authors: David Kuo Chuen Lee, Joseph Lim, Kok Fai Phoon, Yu Wang

1st Edition

9811241864, 978-9811241864

More Books

Students also viewed these Finance questions

Question

5. Explain synchronous neural oscillations.

Answered: 1 week ago

Question

Write a Python program to check an input number is prime or not.

Answered: 1 week ago

Question

Write a program to check an input year is leap or not.

Answered: 1 week ago

Question

Write short notes on departmentation.

Answered: 1 week ago

Question

7. Understand the challenges of multilingualism.

Answered: 1 week ago

Question

5. Give examples of variations in contextual rules.

Answered: 1 week ago