Manufacturing statement preparation L.O. P2 Given the following selected account

ID: 2352767 • Letter: M

Question

Manufacturing statement preparation L.O. P2 Given the following selected account balances of Randa Company. Prepare its manufacturing statement for the year ended on December 31, 2011 (Input all amounts as positive values. Omit the "$" sign in your response.) Direct materials (Click to select) $ (Click to select) Raw materials available for use (Click to select) Direct materials used $ (Click to select) Factory overhead (Click to select) (Click to select) (Click to select) (Click to select) Total factory overhead costs Total manufacturing costs (Click to select) Total cost of goods in process (Click to select) Cost of goods manufactured $

Explanation / Answer

Manufacturing statement

Direct materials

Beginning raw materials inventory

42,000

raw material purchases

171,200

available for use

213200

ending raw materials inventory

41,700

direct materials used

171500

Direct labor

222,000

Manufacturing overhead

Factory computer supplies

19,200

Indirect labor

58,000

Repairs-factor equipment

7,250

rent cost of factory building

52,000

total factory overhead

136450

total manufacturing costs

529950

Beginning goods in process inventory

59,400

total cost of goods in process

589350

ending goods in process inventory

44,500

cost of goods manufactured

544850