Schedule of Cost of Goods Manufactured and Sold

The following amounts are available for the year for Bourne Manufacturing Company:

Administrative salaries $($non$-$factory$)$ $$140,000$

Administrative rent $($non$-$factory$)70,000$

Advertising and promotion expense $82,000$

Depreciation$-$administrative $44,000$

Depreciation$-$factory $60,000$

Depreciation$-$selling $34,000$

Direct labor $350,000$

Factory rent $36,000$

Factory supplies used $24,000$

Finished goods inventory $($January $1)114,000$

Finished goods inventory $($December $31)104,000$

Indirect material used $28,000$

Indirect labor $38,000$

Materials inventory $($January $1)26,000$

Materials inventory $($December $31)40,000$

Net delivered cost of materials purchased $276,000$

Other factory overhead $52,000$

Sales $1,690,000$

Sales salaries expense $144,000$

Work in process inventory $($January $1)36,000$

Work in process inventory $($ December $31)62,000$

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 $31$

Direct material:

Beginning materials inventory Answer

Answer

Answer

Cost of material available Answer

Less: Answer

Answer

Total materials used Answer

Less: Answer

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

Answer

Answer

Total manufacturing overhead Answer

Total manufacturing costs for the year Answer

Add: Answer

Answer

Total cost of work in process during the year Answer

Less: Answer

Answer

Cost of goods manufactured Answer

Add: Answer

Answer

Cost of goods available for sale Answer

Less: Answer

Answer

Cost of goods sold Answer