An incomplete cost of goods manufactured schedule is presented below.
|
Work in process (1/1) |
|
|
|
|
Direct materials |
|
|
$210,000 |
|
Raw materials inventory (1/1) |
$ ? |
|
|
|
Add: Raw materials purchases |
158,000 |
|
|
|
Total raw materials available for use |
? |
|
|
|
Less: Raw materials inventory (12/31) |
22,500 |
|
|
|
Direct materials used |
|
$190,000 |
|
|
Direct labor |
|
? |
|
|
Manufacturing overhead |
|
|
|
|
Indirect labor |
18,000 |
|
|
|
Factory depreciation |
36,000 |
|
|
|
Factory utilities |
68,000 |
|
|
|
Total overhead |
|
122,000 |
|
|
Total manufacturing costs |
|
|
? |
|
Total cost of work in process |
|
|
? |
|
Less: Work in process (12/31) |
|
|
81,000 |
|
Cost of goods manufactured |
|
|
$530,000 |
Instructions
Complete the cost of goods manufactured schedule for Molina Manufacturing Company.
An incomplete cost of goods manufactured schedule is presented below.
|
Work in process (1/1) |
|
|
|
|
Direct materials |
|
|
$210,000 |
|
Raw materials inventory (1/1) |
$ ? |
|
|
|
Add: Raw materials purchases |
158,000 |
|
|
|
Total raw materials available for use |
? |
|
|
|
Less: Raw materials inventory (12/31) |
22,500 |
|
|
|
Direct materials used |
|
$190,000 |
|
|
Direct labor |
|
? |
|
|
Manufacturing overhead |
|
|
|
|
Indirect labor |
18,000 |
|
|
|
Factory depreciation |
36,000 |
|
|
|
Factory utilities |
68,000 |
|
|
|
Total overhead |
|
122,000 |
|
|
Total manufacturing costs |
|
|
? |
|
Total cost of work in process |
|
|
? |
|
Less: Work in process (12/31) |
|
|
81,000 |
|
Cost of goods manufactured |
|
|
$530,000 |
Instructions
Complete the cost of goods manufactured schedule for Molina Manufacturing Company.