Answer:
Bledsoe Corporation
Schedule of Cost of goods manufactured
Particulars Amount
Direct materials:
Beginning material inventory $25,100.00
Add: Purchases <u>$72,100.00</u>
Raw material available for use $97,200.00
Less: Ending material inventory <u>$21,100.00</u>
Raw material used in production $76,100.00
Less: Indirect material <u>$4,010.00 </u> $72,090.00
Direct labor $92,100.00
Manufacturing overhead applied <u>$41,100.00</u>
Total manufacturing costs $205,290.00
Add: Beginning WIP <u>$17,100.00</u>
Total cost of work in process $222,390.00
Less: Ending WIP <u>$10,100.00</u>
Cost of goods manufactured <u>$212,290.00</u>
Bledsoe Corporation
Schedule of COGS
Particulars Amount
Cost of goods sold:
Beginning finished goods inventory $48,100.00
Add: Cost of goods manufactured <u>$212,290.00</u>
Cost of goods available for sale $260,390.00
Less: Ending finished goods inventory <u>$56,100.00</u>
Unadjusted cost of goods sold $204,290.00
Add: Underapplied overhead <u>$1,010.00 </u>($42,110 - $41,100)
Adjusted cost of goods sold <u>$205,300.00</u>
