Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Schedule of cost of goods manufactured. I'm so lost on how to do this. Can someone help fill out the accounts and walk me through

Schedule of cost of goods manufactured. I'm so lost on how to do this. Can someone help fill out the accounts and walk me through the steps?

image text in transcribed

Inventories:

Beginning

Ending

Raw Materials

$14,000 beginning

$6,500 ending

Work-in-Process

0 beginning

2,000 ending

Finished goods

0 beginning

5,600 ending

Other information:

Raw materials purchases

$38,000

Plant janitorial services

300

Sales salaries

5,600

Delivery costs

1,700

Sales revenue

115,000

Utilities for plant

1,000

Rent on plant

11,000

Customer service hotline costs

1,800

Direct labor

19,000

Yummy Treats manufactures its own brand of pet chew bones. At the end of December 2016, the accounting records showed the following: (Click the icon to view the accounting records.) Read the reauirements Requirement 1. Prepare a schedule of cost of goods manufactured for Yummy Treats for the year ended December 31, 2016. (For accounts with a $0 balance, make sure to enter "O" in the appropriate column.) Yummy Treats Schedule of Cost of Goods Manufactured Year Ended December 31. 2016 Direct Materials Used: Direct Materials Used Manufacturing Overhead Total Manufacturing Overhead Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Audit Practice From A To Z

Authors: Patrick Onwura Nzechukwu

1st Edition

149874205X, 978-1498742054

More Books

Students also viewed these Accounting questions

Question

1. Let a, b R, a Answered: 1 week ago

Answered: 1 week ago