Question
Schedule of Cost of Goods Manufactured Vernon Bakery shows the following data related to its August 31, 2017 fiscal year: Raw materials inventory, September 1,
Schedule of Cost of Goods Manufactured
Vernon Bakery shows the following data related to its August 31, 2017 fiscal year:
Raw materials inventory, September 1, 2016 | $2,400 |
Raw materials inventory, August 31, 2017 | 1,600 |
Work in process inventory, September 1, 2016 | 200 |
Work in process inventory, August 31, 2017 | 150 |
Finished goods inventory, September 1, 2016 | 1,000 |
Finished goods inventory, August 31, 2017 | 900 |
Rent on the commercial kitchen | 12,000 |
Depreciation of delivery vehicle | 1,500 |
Salary paid to head baker | 42,000 |
Purchases of raw materials | 58,000 |
Delivery costs | 2,500 |
Utilities expense - office | 600 |
Depreciation - kitchen equipment | 2,000 |
Dividends paid to shareholders | 10,000 |
Utilities expense - kitchen | 1,200 |
Marketing | 3,000 |
Wages paid to kitchen cleaning staff | 16,000 |
Wages paid to assistant bakers | 65,000 |
Required:
Based on the information above, prepare a schedule of cost of goods manufactured.
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