An incomplete cost of goods manufactured schedule is presented below.
| Work in process (1/1) |
|
|
|
| Direct materials |
|
| $210,000 |
| Raw materials inventory (1/1) | $ ? |
|
|
| Add: Raw materials purchases | 158,000 |
|
|
| Total raw materials available for use | ? |
|
|
| Less: Raw materials inventory (12/31) | 22,500 |
|
|
| Direct materials used |
| $190,000 |
|
| Direct labor |
| ? |
|
| Manufacturing overhead |
|
|
|
| Indirect labor | 18,000 |
|
|
| Factory depreciation | 36,000 |
|
|
| Factory utilities | 68,000 |
|
|
| Total overhead |
| 122,000 |
|
| Total manufacturing costs |
|
| ? |
| Total cost of work in process |
|
| ? |
| Less: Work in process (12/31) |
|
| 81,000 |
| Cost of goods manufactured |
|
| $530,000 |
Instructions
Complete the cost of goods manufactured schedule for Molina Manufacturing Company.
An incomplete cost of goods manufactured schedule is presented below.
| Work in process (1/1) |
|
|
|
| Direct materials |
|
| $210,000 |
| Raw materials inventory (1/1) | $ ? |
|
|
| Add: Raw materials purchases | 158,000 |
|
|
| Total raw materials available for use | ? |
|
|
| Less: Raw materials inventory (12/31) | 22,500 |
|
|
| Direct materials used |
| $190,000 |
|
| Direct labor |
| ? |
|
| Manufacturing overhead |
|
|
|
| Indirect labor | 18,000 |
|
|
| Factory depreciation | 36,000 |
|
|
| Factory utilities | 68,000 |
|
|
| Total overhead |
| 122,000 |
|
| Total manufacturing costs |
|
| ? |
| Total cost of work in process |
|
| ? |
| Less: Work in process (12/31) |
|
| 81,000 |
| Cost of goods manufactured |
|
| $530,000 |
Instructions
Complete the cost of goods manufactured schedule for Molina Manufacturing Company.
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