Question

. Alien Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year Indirect labor amounted to $2,700 while indirect materials used totaled $1,600.other operating costs pertaining to the factory induded utilities of $3,100, antenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5.500 balance and ended the year with a $7.500 balance Prepare a statement of cost of goods manufactured Alen Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Factory overhead P R 7 Y H K B 2 M HP Laptop ор Do more from anywhere. All-day long.

Answer 1

Sol Information Given Particulars Opening Work in Progress Closing Work in Progress Direct material used Direct Labour Indirect Labour Indirect Material Utilities Maintenace Supplies Depreciation Property Taxes Amount $ 5,500 $ 7,500 $ 71,000 $ 37,000 $ 2,700 $ 1,600 $ 3,100 Factory Over $ 4,500 Heads $ 1,800 $ 7,900 $ 2,600 Now let us prepare Statement of Cost good manufactured

Ailen Company Statement of Cost good manufactured For the year ended December 31 Particulars Amount Amount Amount 5500 $ $ 71,000 37,000 Opening Work in Progress-(A) Direct material used Direct Labour Factory Overhead Indirect Labour Indirect Material Utilities Maintenace Supplies Depreciation Property Taxes Total Manufacturing Cost Incurred (B) $ $ $ $ $ $ $ 2,700 1,600 3,100 4,500 1,800 7,900 2,600 $ 24,200 $1,32,200 Total Manufacturing Cost (C)=(A)+(B) $1,37,700 Less: Closing Work in Progress-(D) $ 7,500 Cost Good manufactured (C)-(D) $ 1,30,200