Bledsoe Corporation has provided the following data for the month of November: i

Question

Bledsoe Corporation has provided the following data for the month of November: inni Raw materials Work in process Finished Goods $ 25, 100 $21, 100 $ 17, 100 $10, 100 $ 48, 100 $56, 100 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $72, 100 $92, 100 $12, 110 $4, 010 $41, 100 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Complete this question by entering your answers in the table below Schedule of Schedule of COGM COGS Prepare a Schedule of Cost of Goods Manufactured. BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Direct materials

Explanation / Answer

schedule of cost of goods manufactured

cost of goods sold:

Direct materials: Beginning materials inventory 25,100 add: purchases of raw materials 72,100 raw materials available for use 97,200 less: ending raw material inventory (21,100) raw material used in production 76,100 less: indirect materials included in manufacturing overhead incurred (4,010) 72,090 Direct labour 92,100 manufacturing overhead applied to work in process 41,100 Total manufacturing costs 205,290 add:beginning work in process inventory 17,100 222,390 less:ending work in process inventory (10,100) cost of goods manufactured 212,290

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