Prepare Prepare Schedule of Cost of Goods Manufactured and Sold

Worksheet, Income Statements, and Schedule of Cost of Goods Manufactured and Sold The following is the trial balance of Hyde Company at December 31,2016, together with the worksheet adjustments. Hyde Company uses perpetual inventory procedures Trial Balance Adjustment Debit Credit Debit Credit Cash Materials inventory Work in process inventory Finished goods inventory Prepaid insurance $14,000 26,000 15,000 21,000 1,400 120,000 (1) S 700 Factory machinery $25,000 (2) 8,500 (3) 1,600 Patents Accounts payable Common stock, $10 par value Retained earnings Sales 20,400 33,100 85,000 12,700 310,000 Additional information 1. January 1,2016, inventories were materials, $18,000 work in process, $13,900 and finished goods, $21,000 2. Net delivered cost of materials purchased was $71.400 3. Direct iapor was u,4UU 4. Manufacturing overhead included the following Indirect labor Factory utilities Repairs and maintenance 2,200 Factory buildings rent9,000 Indirect material $30,500 4,100 7,500 Hyde Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory SAnswer Answer Answ Cost of material available Answer vAnstw LessAnswer Total material used Answer Answer LessAnswer Direct material used SAnswer Direct labor Answer Manufacturing overhead: Indirect material Answer Indirect labor Answer Indirect labor Answer Factory utilities Factory repairs and maintenance Factory buildings rent Answer Answer Answer Depreciation-machinervy Answer Hyde Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Total manufacturing overhead: Answer | Total manufacturing costs for the year Answer Add.Answer Answer Total cost of work in process during the year Answer LessAnswer Answer Cost of goods manufactured Answer Answer Cost of goods available for sale Answer LessAnswer Answer Cost of goods sold S