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Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company: Administrative salaries (non-factory) $127,500 Administrative rent

Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company:

Administrative salaries (non-factory) $127,500
Administrative rent (non-factory) 70,500
Advertising and promotion expense 139,500
Depreciation-administrative 115,500
Depreciation-factory 142,500
Depreciation-selling 54,000
Direct labor 487,500
Factory rent 102,000
Factory supplies used 34,500
Finished goods inventory (January 1) 91,500
Finished goods inventory (December 31) 94,500
Indirect material used 40,500
Indirect labor 66,000
Materials inventory (January 1) 33,000
Materials inventory (December 31) 45,000
Net delivered cost of materials purchased 315,000
Other factory overhead 82,500
Sales 1,407,000
Sales salaries expense 106,500
Work in process inventory (January 1) 49,500
Work in process inventory (December 31) 43,500

Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers.

Bishop Manufacturing Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016
Direct material:
Beginning materials inventory $Answer
AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventory Answer
Cost of material available Answer
Less: AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventory Answer
Total materials used Answer
Less: AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding 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
AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead Answer
Total manufacturing overhead Answer
Total manufacturing costs for the year Answer
Add: AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead Answer
Total cost of work in process during the year Answer
Less: AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead Answer
Cost of goods manufactured Answer
Add: AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead Answer
Cost of goods available for sale Answer
Less: AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead Answer
Cost of goods sold $Answer

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