acc349 determine missing amounts in cost of goods manufactured schedule an incomplet 492713
Determine missing amounts in cost of goods manufactured schedule. An incomplete cost of goods manufactured schedule is presented below.
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acc349 determine missing amounts in cost of goods manufactured schedule an incomplet 492713
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MADLOCK MANUFACTURING COMPANY |
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Cost of Goods Manufactured Schedule |
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For the Year Ended December 31, 2005 |
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Work in process (1/1) |
210,000 |
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Direct materials: |
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Raw materials inventory (1/1) |
? |
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Add: Raw materials purchases |
158,000 |
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Total raw materials available for use |
? |
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Less: Raw materials inventory (12/31) |
7,500 |
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Direct materials used |
190,000 |
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Direct labor |
? |
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Manufacturing overhead: |
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Indirect labor |
18,000 |
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Factory depreciation |
36,000 |
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Factory utilities |
68,000 |
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Total overhead |
122,000 |
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Total manufacturing costs |
? |
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Total cost of work in process |
? |
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Less: Work in process (12/31) |
81,000 |
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Cost of goods manufactured |
530,000 |
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Instructions:
Complete the cost of goods manufactured schedule for Madlock Manufacturing Company.
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