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Schedule of cost of goods manufactured

Preparation of a schedule of costo goods Manufactured and cost goods sold.

The following cost and inventory data for the just completed year are taken from the accounting records of eccfles company:

Cost incurred:

Advertising Expense:..............................$100,000
Direct labor cost.....................................$90,000
Puchases of raw materials.......................$132,000
Rent, factory building..............................$80,000
Indirect labor.........................................$56,300
Sales commissions.................................$35,000
Utilities, factory......................................$9,000
Maintenance, Factory equipment..............$24,000
Supplies, Factory...................................$700
Depreciation, office equipment ...............$8,000
Depreciation, factory equipment..............$40,000

beginning end
of year year

Inventories:
Raw materials $8,000 $10,000
Work in Process $5,000 $20,000
finished good $70,000 $25,000

1. Prepare a schedule of cost of goods manufactured
2. Prepare the cost of goods sold section of eccles company's income statement for te year

Solution Preview

Preparation of a schedule of costo goods Manufactured and cost goods sold.

The following cost and inventory data for the just completed year are taken from the accounting records of eccfles company:

Cost incurred:

Advertising Expense:..............................$100,000
Direct labor cost.....................................$90,000
Puchases of raw ...

Solution Summary

This provide the steps to compute the schedule of cost of goods manufactured

$2.19