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    Preparation of a Schedule of COGM and COGS and more....

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    Please refer to the spreadsheet attached to the question:

    1. If Eccles produces 10,000 units what is the unit cost and total cost for direct material and factory rent?
    2. Assume that Eccles doubles their production, how will that effect the 2 cost item above?

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    Solution Preview

    ** Please see the attached excel file for the complete solution **

    Eccles Company
    Cost of Goods Manufactured Schedule

    Opening Inventory
    Raw Materials $8,000.00
    Work in Progress $5,000.00
    Purchases of raw materials $132,000.00
    Direct Labor $90,000.00
    Indirect Labor $56,300.00
    Factory Machinery Depreciation $40,000.00 ...

    Solution Summary

    This solution explains how to produce a schedule including cost of goods manufactured (COGM) and cost of goods sold (COGS) and other values.