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Problem 2-12 Templar Company, a manufacturing firm, has supplied the following information from its accounting records for the month of November: Factory supplies used $18,000
Problem 2-12
Templar Company, a manufacturing firm, has supplied the following information from its accounting records for the month of November:
| Factory supplies used | $18,000 |
| Depreciation on factory building | 17,000 |
| Salary of company controller | 6,000 |
| Factory janitorial costs | 5,000 |
| Marketing and promotion | 4,500 |
| Direct labor cost | 22,000 |
| Purchases of raw materials | 10,000 |
| Finished goods inventory, Nov. 1 | 2,250 |
| Finished goods inventory, Nov. 30 | 3,750 |
| Work-in-process inventory, Nov. 1 | 4,200 |
| Work-in-process inventory, Nov. 30 | 2,750 |
| Materials inventory, Nov. 1 | 3,500 |
| Materials inventory, Nov. 30 | 5,100 |
Required:
A. Prepare a Statement of Cost of Goods Manufactured.
| Templar Company | ||
| Statement of Cost of Goods Manufactured | ||
| For the Month of November | ||
| Materials inventory, Nov. 1 | $ | |
| Purchases of materials | ||
| Materials inventory, Nov. 30 | ||
| Materials used | $ | |
| Purchases of materials | ||
| Purchases of materials | ||
| Total manufacturing costs | ||
| Work-in-process inventory, Nov. 1 | ||
| $ | ||
B. Prepare a Statement of Cost of Goods Sold.
| Templar Company | |
| Statement of Cost of Goods Sold | |
| For the Month of November | |
| Cost of goods manufactured | $ |
| Finished goods inventory, Nov. 1 | |
| Finished goods inventory, Nov. 30 | |
| Cost of goods sold | $ |
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