Question 2

From the following data,prepared a schedule of cost of goods manufactured.

Selling expenses Direct materials used Factory overhead Direct Labour Administrative expenses $ 12,000 25,000 30,000 52,000 10,000 Inventories Beginning Ending_ Direct materials Work-in-process Finished goods $ 1,000 5,000 4,000 $ 500 6,000 2,500 Schedule of Costs of Goods Manufactured Direct materials used Direct labour Factory overhead Total Manufacturing costs Add: Beginning work-in-process Less: Ending work-in-process Cost of Goods manufactured