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3 years ago

Fultz Company has accumulated the following budget data for the year 2020.

Business

1 answer:

PilotLPTM [1.2K]3 years ago

7 0

Answer:

COST OF Goods SOLD $ 1,1539,110

Explanation:

Fultz Company

Schedule of Cost of Goods Sold for 2020

As there are no beginning and ending finished goods inventories the total units produced are sold. (Finished Goods required 31410 Units)

Inventories raw materials : beginning, 10,120 pounds

Add Direct Materials Purchases 36770 pounds

Less Inventories ending raw materials , 15,480 pounds

Direct Materials Used 31410 pounds

Materials 1 pound at $6 per pound= $ 6* 31410 Units= $ 188460

Direct labor 3 hours at $12 per hour= $ 36* 31410 Units= $ 1130780

Manufacturing Overhead $7 per direct labor hour= $ 7* 31410 Units=

$ 219870

Total Manufacturing Costs $ 1,1539,110

There are no beginning and ending work in process inventories so the total manufacturing cost gives us the COST OF Goods SOLD.

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