Question

Required information The folfowing selected account balances are provided for Delray Mfg Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Pinished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 s 1,295,000 41,000 54,500 60,100 163,700 220,000 23,500 58,000 5,250 57,000 84,000 139,000 47,400 41,200 67,800 Prepare its schedule of cost of goods manufactured for the year ended December 31 DELRAY MFG Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Prev2 of 11 Next > 4H F2 F3 F4 FS F6 F7

Answer 1

Ans.	DELRAY MFG.
	Schedule of Cost Of Goods Manufactured
	For the Year Ended December 31, 2017
	Particulars	Amount	Amount
	Direct materials:
	Raw material purchase	163700
	Add: Beginning raw material inventory	41000
	Raw materials available for use	204700
	Less: Ending raw material inventory	-47400
	Direct materials used (a)		157300
	Direct labor (b)		220000
	Factory overheads:
	Rental cost on factory building	57000
	Factory computer supplies used	23500
	Indirect labor	58000
	Repairs- Factory equipment	5250
	Total factory overhead cost (c)	143750
	Total manufacturing cost (a+b+c)		521050
	Add: Beginning work in process inventory		54500
	Total cost of work in process		575550
	Less: Ending work in process inventory		-41200
	Cost of Goods Manufactured		534350