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	$