Homework Answers
Part 1
|
Cost of goods manufactured |
$607500 |
Cost of goods manufactured = direct materials used + direct labor + manufacturing overhead + beginning work in process – ending work in process
Direct materials used = beginning raw materials + materials purchased – ending raw materials = 25000+350000-40000 = $335000
Cost of goods manufactured = 335000+74000+190000+55000-46500 = 607500
Part 2
|
Cost per unit |
$75 |
Per unit |
Cost per unit = total cost of goods manufactured / number of units = 607500/8100 = $75
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Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: March 1 March 31 Inventories Materials $182,000 $163,800 Work in process 123,760 111,380 Finished goods 94,640 111,380 Direct labor $327,600 Materials purchased during March 349,440 Factory overhead incurred during March: Indirect labor 34,940 Machinery depreciation 21,110 Heat, light, and power 7,280 Supplies 5,820 Property taxes 5,100 Miscellaneous costs 9,460 a. Prepare a cost of goods...
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