Elias Corporation has the following cost records for February 2013. Indirect fac
ID: 2372497 • Letter: E
Question
Elias Corporation has the following cost records for February 2013.
Indirect factory labor
$ 4,612
Factory utilities
$ 401
Direct materials used
22,361
Depreciation, factory equipment
1,585
Work in process, 6/1/12
2,769
Direct labor
31,084
Work in process, 6/30/12
3,633
Maintenance, factory equipment
1,792
Finished goods, 6/1/12
4,609
Indirect materials
2,268
Finished goods, 6/30/12
7,429
Factory manager's salary
3,315
Instructions: Prepare a cost of goods manufactured schedule for February 2013.
Indirect factory labor
$ 4,612
Factory utilities
$ 401
Direct materials used
22,361
Depreciation, factory equipment
1,585
Work in process, 6/1/12
2,769
Direct labor
31,084
Work in process, 6/30/12
3,633
Maintenance, factory equipment
1,792
Finished goods, 6/1/12
4,609
Indirect materials
2,268
Finished goods, 6/30/12
7,429
Factory manager's salary
3,315
Explanation / Answer
Direct materials used
22,361
Direct labor
31,084
Prime Cost $53,445
Indirect factory labor
4,612
Factory utilities
401
Depreciation, factory equipment
1,585
Indirect materials
2,268
Factory manager's salary
3,315
Maintenance, factory equipment
1,792
Total Manufacturing Cost $67,418
Work in process, 6/1/12
2,769
Work in process, 6/30/12
3,633
Cost of Good Manufactured $66,554
Direct materials used
22,361
Direct labor
31,084
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