1. Prepare a cost of goods manufactured statement for January. Refer to the Amount Descriptions list provided for the exact word

Question

4 years ago

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1. Prepare a cost of goods manufactured statement for January. Refer to the Amount Descriptions list provided for the exact word

ing of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
2. Determine the cost of goods sold for January.

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories January 1 January 31
Materials $314,000 $276,800
Work in process 216,000 239,800
Finished goods 163,200 189,000
January 31
Direct labor $567,000
Materials purchased during the month 606,600
Factory overhead incurred during the month:
Indirect labor 60,520
Machinery depreciation 32,000
Heat, light, and power 12,200
Supplies 8,220
Property taxes 8,880
Miscellaneous costs
16,460

Business

1 answer:

Vladimir79 [104] · Answer 1 · 2022-01-22T11:46:17+03:00

Answer:

Cost Of Goods Manufactured $ 1326,080

Cost of Goods Sold Statement $1300,280

Explanation:

Sandusky Manufacturing Company

Cost of goods Manufactured & Sold Statement

Month ended January 31

Direct Materials (opening Inventory) 314,000

Add Purchases 606,600

Less Ending Inventory (276,800)

Materials available for Use 643,800

Add Direct Labor 567,000

Factory Overhead

Indirect Manufacturing Labor 60,520

Supplies 8,220

Depreciation 32,000

Heat Light Power 12,2000

Property taxes 8,880

Miscellaneous costs 16,460 138,280

1349,080

Add Opening WIP 216,000

Less Closing WIP 239,000

Cost Of Goods Manufactured $ 1326,080

Add Beginning Finished goods 163,200

Less Ending Finished Goods 189,000

Cost of Goods Sold Statement $1300,280