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Madlock Manufacturing Company

Madlock Manufacturing Company

Work in Progress 1/1 $210,000.00
Direct Materials
Raw materials inventory (1/1) $ ?
Add: Raw Materials to Purchases $158,000
Total Raw Materials Available for use $ ?
Less Raw Materials Inventory (12/31) $7,500
Direct Materials Used $190,000.00
Direct Labor $ ?
Manufacturing Overhead
Indirect Labor $18,000
Factory Depreciation $36,000
Factory Utilities $68,000
Total Overhead $122,000.00
Total manufacturing costs $ ?
Total cost of work in progress $ ?
Less: Work in process (12/31) $81,000.00
Cost of Goods Manufactured $530,000.00
Complete the cost of Goods Manufactured Schedule?

Solution Preview

Madlock Manufacturing Company

Work in Progress 1/1 $210,000.00
Direct Materials
Raw materials inventory (1/1) $ 39,500
Add: Raw Materials to Purchases $158,000
Total Raw Materials Available for use $197,500
Less Raw Materials Inventory (12/31) $ 7,500
Direct Materials Used $190,000.00
Direct Labor $ 89,000.00 ...

Solution Summary

This solution is comprised of a detailed explanation to determine Missing Amounts in the Cost of Goods Manufactured.

$2.19