Statement of Cost of Goods Manufactured
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During August, Rao Company's purchases of direct materials totaled $139,000; direct labor for the month was 3,400 hours at $8.75 per hour. Rao also incurred the following overhead costs: utilities $5,870, supervision $16,600, indirect materials $6,750, depreciation $6,200, insurance $1,830, and miscellaneous $1,100.
Beginning Inventory accounts were as follows: Materials inventory $48,600, Work in Process Inventory $54,250, and Finished Goods Inventory $38,500. Ending Inventory accounts were as follows: Materials Inventory $50,100, Work in Process Inventory $48,400, and Ginished Goods Inventory $37,450.
From the information given, prepare a statement of cost of goods manufactured.
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Rao Company
Statement of Cost of Goods Manufactured
For the Month of August
Direct materials used
Purchases $ 139,000
Add opening stock of Raw ...
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