Prepare a condensed cost of goods manufactured schedule for Case 1. Indicate the missing amount. Case…
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Question “Prepare a condensed cost of goods manufactured schedule for Case 1. Indicate the missing amount. Case…”
Prepare a condensed cost of goods manufactured schedule for Case
1.
Indicate the missing amount. Case 1 2 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs 9,789 3581 5,162 8,689 8,934 4,450 23640 16,965 Beginning work in process inventory 1,229 8860 Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale 7373 3,175 25,093 2,947 17,496 3189 33348 1,840 22,650 4,327 20,685 26977 Cost of goods sold Ending finished goods inventory Gross profit Operating expenses Net income 24282 2,695 7,226 2041 5,185 16474 4,211 5672 3,498 2174
Answer
CASE 1 Cost Of Goods Manufactured Schedule In progress, starting Direct Material Direct Labour Manufacturing overhead Total Manufacturing Cost 1,229 9,789 5,162 8689 23,640 Total cost of Work in Process less: Work in Progress Ending 24,869 7,373 Total Cost of Goods Manufacturing 17,496
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