| w c CONNECT LOGIN XCh 01 Ex 1-13 X New Tab /newconnect.mheducation.com/flow/co

ID: 2342906 • Letter: #

Question

| w c CONNECT LOGIN XCh 01 Ex 1-13 X New Tab /newconnect.mheducation.com/flow/connect.html?returnUrlshttps%3A%2F%2Fconnect.mheduc Saved Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense Ceneral and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Pinished goods inventory, Dec. 31, 2017 $ 1,102,000 41,000 58,400 63,100 183,000 241,000 23,300 54,000 5,250 57,000 88,000 125,000 44,100 38,600 74,400 Exercise 1-13 Preparation of schedule of cost of goods manufactured Prepare its schedule of cost of goods manufectured for the year ended December 31, 20

Explanation / Answer

DELRAY MFG.

Schedule of Cost of Goods Manufactured

For the year ended December 31, 2017

Direct materials

Beginning raw materials inventory

$ 41,000

Raw materials purchases

$ 183,000

Raw materials available for use

$ 224,000

Ending raw materials inventory

-$ 44,100

Direct materials used

$ 179,900

Direct labor

$ 241,000

Factory overhead:

Factory computer supplies used

$ 23,300

Indirect labor

$ 54,000

Repairs - Factory equipment

$ 5,250

Rent cost of factory building

$ 57,000

Total factory overhead costs

$ 139,550

Total manufacturing costs

$ 560,450

Beginning work in process inventory

$ 58,400

Total cost of work in process

$ 618,850

Ending work in process inventory

-$ 38,600

Cost of goods manufactured

$ 580,250