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Cost of Goods Manufactured Statement

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

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