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Problem 2.43A a-c The following data were taken from the records of Stellar Manufacturing Company for the fiscal year ended December 31, 2020: Raw
Problem 2.43A a-c The following data were taken from the records of Stellar Manufacturing Company for the fiscal year ended December 31, 2020: Raw Materials Inventory (1/1/20) $47,450 Factory Machinery Depreciation Raw Materials Inventory (12/31/20) Finished Goods Inventory (1/1/20) Finished Goods Inventory (12/31/20) 44,550 Factory Utilities $7,900 13,020 85,650 Office Utilities 8,880 77,650 Sales 465,320 Work in Process Inventory (1/1/20) 10,150 Sales Discounts 2,250 Work in Process Inventory (12/31/20) 7,400 Plant Manager's Salary 40,550 Direct Labour 145,550 Factory Property Taxes 7,100 Indirect Labour Accounts Receivable Factory Insurance 18,350 27,250 7,440 Factory Repairs 920 Raw Materials Purchases 62,650 Cash 28,000 Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
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