Question
Waterway Company produces small gasoline-powered engines for model airplanes. Mr. King, Waterways CFO, has presented you with the following cost information: Direct Materials Inventory, beginning
Waterway Company produces small gasoline-powered engines for model airplanes. Mr. King, Waterways CFO, has presented you with the following cost information:
| Direct Materials Inventory, beginning | $ | 66,000 | |||
| Direct Materials Inventory, ending | $ | 49,000 | |||
| Work in Process Inventory, beginning | $ | 30,000 | |||
| Work in Process Inventory, ending | $ | 24,000 | |||
| Direct labor | $ | 156,000 | |||
| Direct materials purchases | $ | 219,000 | |||
| Insurance, factory | $ | 42,000 | |||
| Depreciation, factory | $ | 19,000 | |||
| Depreciation, executive offices | $ | 13,000 | |||
| Indirect labor | $ | 16,000 | |||
| Utilities, factory | $ | 17,000 | |||
| Utilities, executive offices | $ | 8,000 | |||
| Property taxes, factory | $ | 14,000 | |||
| Property taxes, executive offices | $ | 10,000 |
Using this cost information, prepare a cost of goods manufactured schedule for Mr. King.
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Understanding Accounts
Authors: Ken Langdon, Alan Bonham
2nd Edition
1841127094, 9781841127095
