Cost of Goods Manufactured Statement
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Cost of Goods Manufactured Statement
Denny Corporation, a manufacturing company, produces a single product. The following information has been taken from the company's production, sales, and cost records for the just completed year:
Production in units
51,000
Direct labor
$120,325
Raw materials purchased
$325,019
Manufacturing overhead
$250,265
Selling and administrative expenses
$422,100
Raw Materials, Beginning
$62,900
Raw Materials, Ending
$45,345
Work in Process, Beginning
$52,984
Work in Process, Ending
$58,777
Prepare the Cost of Goods Manufactured Statement in good form
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Solution Summary
Use the information from a manufacturing company's accounts to create the Statement of Cost of Goods Manufactured. This statement requires that the student understands the three types of inventory held by a manufacturing firm and the costs that go into the manufacture of a product.
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DENNY CORPORATION
COST OF GOODS MANUFACTURED STATEMENT
Beginning Work in Process $52,984
Direct Material:
Raw Materials, Beginning $62,900
Raw materials purchased $325,019
_________
Materials Available for use $387,919
Raw Materials, Ending ($45,345)
...
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