Answer:
1. schedule of cost of goods manufactured for the month
Direct Materials ($ 22,200 - $ 4,870) $ 17,330
Direct labor $ 58,000
Indirect materials $ 4,870
Manufacturing overhead $ 87,900
Add Opening Work in process Inventory $ 55,800
Less Closing Work in process Inventory ($ 68,200)
Cost of goods manufactured $155,700
2. schedule of cost of goods sold for the month
Cost of goods manufactured $155,700
Add :
Opening Finished goods Inventory $ 34,600
Under-applied overhead $ 4,170
Less :
Closing Finished goods Inventory ($ 42,300)
Cost of goods sold $152,170
Explanation:
Determination of Total Raw Materials used in production
Raw Materials T - Account
Debit :
Beginning Balance $ 10,100
Purchases $ 32,000
Totals $42,100
Credit :
Closing Balance $ 19,900
Work In Progress (Balancing figure) $ 22,200
Totals $ 42,100
