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Please help solve all parts of equation and feel free to correct if i filled stuff out incorrectly Cost of Goods Sold Budget The controller
Please help solve all parts of equation and feel free to correct if i filled stuff out incorrectly
Cost of Goods Sold Budget The controller of Ming Ware Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for September $36,800 $7,730 $143,520 $188,050 Estimated inventory, September 1 1,330 3,190 5,320 9,840 Desired inventory, September 30 2,910 2,650 6,980 12,540 Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for September $42,400 $122,960 $165,360 Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, September 1 $5,770 $3,290 $2,710 $11,770 3,690 4,560 4,330 12,580 Desired inventory, September 30 Work in process inventories: $3,520 1,960 Estimated inventory, September 1 Desired inventory, September 30 Budgeted factory overhead costs for September: Indirect factory wages Depreciation of plant and equipment Power and light $79,400 10,520 6,070 Indirect materials 3,180 Total 99,170 Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. MingWare Ceramics Inc. Cost of Goods Sold Budget For the Month Ending September 30 Finished goods inventory, September 1 11,770 Work in process inventory, September 1 3,520 Nirect materiale. Indirect factory wages $79,400 Depreciation of plant and equipment 10,520 Power and light 6,070 Indirect materials 3,180 Total 99,170 Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. MingWare Ceramics Inc. Cost of Goods Sold Budget For the Month Ending September 30 Finished goods inventory, September 1 11,770 Work in process inventory, September 1 3,520 Direct materials: Direct materials inventory, September 1 9,840 188,050 Direct materials purchases Cost of direct materials available for use 197,890 12,540 Direct materials inventory, September 30 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during the period Work in process inventory, September 30 Cost of goods manufactured Cost of direct materials available for use Finished goods inventory, September 30 poio Cost of goods soldStep by Step Solution
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