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    Cost of Goods Manufactured Statement

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    Please help me with the following assignment:

    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 Preview

    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)
    ...

    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.

    $2.19

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