HW Score: 0 core: 0 of 10 pts 18-23 (similar to) Use the following information f

Question

HW Score: 0 core: 0 of 10 pts 18-23 (similar to) Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: 1 of 35 (0 complete) Quest (Click the icon to view the information.) Schedule of Cost of Goods Manufactured and Cost of Goods Sold Data Table Direct Materials Used Ending Inventories Raw Materials Work-in-Process Finished Goods Other information: Purchases of materials Direct labor Manufacturing overhead Beginning $ 27,000 37,000 17,000 $ 30,000 34,000 29,000 Direct Materials Used S 72,000 87,000 45,000 Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Print Done Cost of Goods Manufactured Cost of Goods Available for Sale Cost of Goods Sold

Explanation / Answer

Statement showing cost of goods Manufactured Particulars Amount Beginning inventory, raw materials              27,000.00 Plus: Purchases of raw materials            72,000.00 Raw materials available for use = Beg + Purchase            99,000.00 Less: Ending raw materials inventory           (30,000.00) Cost of direct raw materials used            69,000.00 Add Direct Labor              87,000.00 Add Manufacturing overhead            45,000.00 Total manufacturing costs         201,000.00 Plus: Beginning work-in-process inventory            37,000.00 Total work in process           238,000.00 Less: Ending work-in-process inventory         (34,000.00) Cost of Goods Manufactured         204,000.00 Add Beginning Inventory            17,000.00 Cost of goods available for sales         221,000.00 Less Finnished Inventory         (29,000.00) Cost of goods sold         192,000.00

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