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Prepare a cost of goods manufactured schedule for June. Blue Spruce Inc. is a construction company specializing in custom patios. The patios are constructed of
Prepare a cost of goods manufactured schedule for June. Blue Spruce Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2022, accounting records for Blue Spruce Inc. contain the following data. Subsidiary data for Work in Process Inventory on June 1 are as follows. During June, raw materials purchased on account were $5,200, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Overhead was charged to jobs at the rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold. Each customer paid in full
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