Question

bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 26,900 $ 22,900 Work in process $ 18,900 $ 11,900 Finished Goods $ 49,900 $ 57,900 Additional information: Raw materials purchases $ 73,900 Direct labor cost $ 93,900 Manufacturing overhead cost incurred $ 44,090 Indirect materials included in manufacturing overhead cost incurred $ 4,190 Manufacturing overhead cost applied to Work in Process $ 42,900 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

Answer 1

The Cost of the goods manufactured is $217,510.00 and the Cost of the goods sold is $210,700.00.

What is Overhead?

The term overhead refers to a company's continuing operating expenses but does not include the direct expenditures involved in producing a good or service.There are both fixed and variable overhead charges.

The complete solution of the question is attached below.

Thus the manufactured cost of the goods refers to those in which the expenses incurred at the time of manufacturing a good. The cost of the manufactured goods is $217,510.00.

The cost of the goods sold is  $210,700.00.

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