Question

Ch 14: Homework Assignment Required Information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct Labor Factory supplies used indirect materials) Indirect labor Repair Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory ending Work in process inventory ending Finished goods inventory, ending Exercise 14.13 Prepare schedule of cost of goods manufactured LO P2 Prepare its schedule of cost of goods manufactured for the current year ended December 31 DELRAY MFG Schedule of Cost of Goods Manufactur For Year Ended December 31, Year Raw materials avalable for use Dreat materials used Tata factory ove mead costs

Answer 1

DELRAY MFG

Shedule of Cost of Goods Manufactured for the

Year Ented December 31

Particulars	Amount	Amount
Direct Materials
Raw Materials Inventory Beginning	$ 38,000
Add: Raw Materials Purchased	$ 180,200
Raw Materials available for use	$ 218,200
Less : Raw Materials Inventory Ending	$ 44,600
Direct Materials Used		$ 173,600
Direct Labour		$ 247,000
Factory Overheads
Factory Supplies Used	$ 15,100
Indirect Labour	$ 46,000
Repairs Factory Equipment	$5,250
Rent Cost of factory Building	$53,000
Total Factory Overheads		$ 119,350
Total Manufacturing Cost		$ 539,950
Add: Work in Process Inventory Beginning		$ 52,000
Total Cost of Work in Process		$ 591,950
Less : Work in Process Inventory Ending		$ 41,100
Cost of Goods Manufactured		$ 550,850