Homework: HW4-Overview of managerial accounting and costc Score: 0 of 10 pts E16

Question

Homework: HW4-Overview of managerial accounting and costc Score: 0 of 10 pts E16-21 (book/static) 7 of 7 4 completel HW Scos Use the folawing i El (Click the icon to view the intormation.) nfomation for a manufacturer to compute cost ef goods manfactured and cost of goods sold First, compute cont of goods manufectured Schedule ot Cost of Goods Manufactured Dicect Materials Used Direct Materias Work-in-Process Inventary Finished Goods invertory 5 27 000 21.000 Direct Materisis Used Purchases of dinect Diect labor Manfcring overhead 73,000 Total Manufacturing Costs t0 Account For Coat of Goods Manufactured Print Done Choose from any lst or enter any number in the input fieids and then click Chack Anewer Cear All MacBook Pro Q search or enter website name 5 6 8 Ul N M

Explanation / Answer

Schedule of cost of goods manufactured Beginning WIP inventory 40000 Direct materials used: Beginning direct materials inventory 27000 Add: Purchase of direct materials 73000 Total direct materials available 100000 Less: Ending direct materials inventory 28000 Direct materials used 72000 Direct labor 56000 Manufacturing overhead 43000 Total manufacturing costs incurred during the year 171000 Total manufacturing costs to account for 211000 Less: Ending WIP inventory 32000 Cost of goods manufactured 179000 Cost of goods sold Beginning finished goods inventory 18000 Cost of goods manufactured 179000 Total goods available for sale 197000 Less: Ending finished goods inventory 25000 Cost of goods sold 172000

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