Question

$ 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 Repairs-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 1,892,000 37,000 54,300 64,100 151,800 248,000 20,900 49,000 5,250 52,000 90,000 134,000 46,300 45,100 69,280 Prepare its schedule of cost of goods manufactured for the current year ended December DELRAY MFG Schedule of Cost of Goods Manufactured For Year Ended December 31. Year 1 Direct materials Raw materials available for use Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs

Answer 1

Answer:

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DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, Year 1 Direct materials: Raw materials inventory, Beginning Add: Raw materials purchased Raw materials available for use $ 37,000.00 $ 151,800.00 $ 188,800.00 $ 46,300.00 Less: Raw materials inventory, Ending Direct materials used $ 142,500.00 Direct labour $ 248,000.00 $ $ 20,900.00 49,000.00 5,250.00 52,000.00 $ $ Factory overhead: Factory supplies used (indirect materials) Indirect labour Repairs-Factory equipment Rent cost of factory building Total factory overhead costs Total manufacturing costs Add: Work-in process inventory, Beginning Total cost of work in process Less: Work-in process inventory, Ending Cost of goods manufactured $ $ $ 127,150.00 517,650.00 54,300.00 571,950.00 45,100.00 526,850.00 $ $ $ Note: Finished goods has not been used for the computation of Cost of goods manufactured