Question
The following data were taken from the records of Kingbird Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 $51,100 Accounts
The following data were taken from the records of Kingbird Company for the fiscal year ended June 30, 2022.
Raw Materials Inventory 7/1/21 | $51,100 | Accounts Receivable | $34,600 | |||
---|---|---|---|---|---|---|
Raw Materials Inventory 6/30/22 | 41,600 | Factory Insurance | 5,200 | |||
Finished Goods Inventory 7/1/21 | 96,800 | Factory Machinery Depreciation | 16,800 | |||
Finished Goods Inventory 6/30/22 | 27,800 | Factory Utilities | 29,700 | |||
Work in Process Inventory 7/1/21 | 21,300 | Office Utilities Expense | 9,550 | |||
Work in Process Inventory 6/30/22 | 27,900 | Sales Revenue | 563,900 | |||
Direct Labor | 144,350 | Sales Discounts | 4,600 | |||
Indirect Labor | 26,360 | Factory Managers Salary | 64,300 | |||
Factory Property Taxes | 9,610 | |||||
Factory Repairs | 2,500 | |||||
Raw Materials Purchases | 97,200 | |||||
Cash | 37,900 |
(a)
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Your answer is partially correct.
Prepare a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials.)
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