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Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory) $105,000 Administrative rent
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company:
Administrative salaries (non-factory) | $105,000 |
Administrative rent (non-factory) | 52,500 |
Advertising and promotion expense | 61,500 |
Depreciation-administrative | 33,000 |
Depreciation-factory | 45,000 |
Depreciation-selling | 25,500 |
Direct labor | 262,500 |
Factory rent | 27,000 |
Factory supplies used | 18,000 |
Finished goods inventory (January 1) | 85,500 |
Finished goods inventory (December 31) | 78,000 |
Indirect material used | 21,000 |
Indirect labor | 28,500 |
Materials inventory (January 1) | 19,500 |
Materials inventory (December 31) | 30,000 |
Net delivered cost of materials purchased | 207,000 |
Other factory overhead | 39,000 |
Sales | 1,267,500 |
Sales salaries expense | 108,000 |
Work in process inventory (January 1) | 27,000 |
Work in process inventory ( December 31) | 46,500 |
Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers.
Bourne Manufacturing Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 | |||
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Direct material: | |||
Beginning materials inventory | Answer | ||
Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory or Ending finished goods inventory | Answer | ||
Cost of material available | Answer | ||
Less: | Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory or Ending finished goods inventory | Answer | |
Total materials used | Answer | ||
Less: | Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory or Ending finished goods inventory | Answer | |
Direct material used | Answer | ||
Direct labor | Answer | ||
Manufacturing overhead | |||
Indirect material | Answer | ||
Indirect labor | Answer | ||
Factory supplies used | Answer | ||
Factory depreciation | Answer | ||
Factory rent | Answer | ||
Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead | Answer | ||
Total manufacturing overhead | Answer | ||
Total manufacturing costs for the year | Answer | ||
Add: | Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead | Answer | |
Total cost of work in process during the year | Answer | ||
Less: | Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead | Answer | |
Cost of goods manufactured | Answer | ||
Add: | Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead | Answer | |
Cost of goods available for sale | Answer | ||
Less: | Cost of materials purchased, Ending materials inventory, Indirect materials used, Beginning work in process inventory, Ending work in process inventory, Beginning finished goods inventory, Ending finished goods inventory or Other factory overhead | Answer | |
Cost of goods sold | Answer |
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