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WIP 1/1 ? Direct Materials: Raw Materials Inv 1/1 $42,000 Add: Raw Material Purchases ? Total Raw materials available for use 224500 Less: RM inv
WIP 1/1 | ? | |||
Direct Materials: | ||||
Raw Materials Inv 1/1 | $42,000 | |||
Add: Raw Material Purchases | ? | |||
Total Raw materials available for use | 224500 | |||
Less: RM inv at 12/31 | ? | |||
Direct Materials used | 178,000 | |||
Direct Labor | ? | |||
Manufacturing overhead: | ||||
Indirect labor | 36,000 | |||
Indirect material | 38,000 | |||
Factory depreciation | ? | |||
Factory utilities | 84,000 | |||
Plant manager salary | 76,000 | |||
Total Overhead | 276,000 | |||
Total Manufacturing costs | 659,000 | |||
Total cost of WIP | 809,000 | |||
Less WIP 12/31 | ? | |||
Cost of goods manufactured | 677,000 |
Fill in the blanks on the above schedule |
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