Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct...

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Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direc Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inv

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Answer 1

Answer #1

BARTON COMPANY
Schedule of Cost of Goods Manufactured
Direct materials	242,500
Direct labor	73,000
Factory overhead costs	28,000
Total manufacturing costs	343,500
Work in process inventory, beginning	160,000
Total cost of work in process	503,500
Work in process inventory, ending	-144,250
Cost of goods manufactured	$359,250

Cost of Direct Material Used is Computed as:
Raw materials inventory, beginning	6,200
Materials purchased	124,500
Total raw materials available	130,700
Raw materials inventory , ending	-11,800
Direct Materials Used	$118,900

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