Type your question here The following data were taken from the records of Clarks

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The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2014.

Raw Materials Inventory 7/1/13 $53,230 Factory Insurance $5,190 Raw Materials Inventory 6/30/14 44,250 Factory Machinery Depreciation 16,710 Finished Goods Inventory 7/1/13 97,770 Factory Utilities 30,460 Finished Goods Inventory 6/30/14 98,460 Office Utilities Expense 9,140 Work in Process Inventory 7/1/13 28,640 Sales Revenue 560,430 Work in Process Inventory 6/30/14 22,330 Sales Discounts 5,040 Direct Labor 148,230 Plant Manager%u2019s Salary 64,500 Indirect Labor 27,550 Factory Property Taxes 9,720 Accounts Receivable 35,070 Factory Repairs 1,870 Raw Materials Purchases 97,960 Cash 37,160

Explanation / Answer

cost of goods manufactured schedule

Raw Materials Inventory 7/1/13 53,230

less:Raw Materials Inventory 6/30/14 (44250)

Add:Raw Materials Purchases 97960

Finished Goods Inventory 7/1/13 97770

less: Finished Goods Inventory 6/30/13 98460

Work in Process Inventory 7/1/13 28640

less: Work in Process Inventory 6/30/13 (22330)

Direct labor 27550

Factory insurance 5190

Factory Machinery Depreciation 16710

factory utilities 30460

plant manager salary 64500

factory property taxes 9720

factory repairs 1870

total 416790

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