Data Table Beginning of End of Shonda Corporation 2014 2014 Direct materials inv

Question

Data Table Beginning of End of Shonda Corporation 2014 2014 Direct materials inventory Work-in-process inventory Finished goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Indirect materials Plant insurance Depreciation-plant, building, and equipment Plant utilities Repairs and maintenance plant Equipment leasing costs Marketing, distribution, and customer-service costs General and administrative costs $129,000 $ 72,000 144,000 205,000 255,000 213,000 101,000 29,000 9,000 47,000 21,000 17,000 61,000 126,000 73,000 166,000 248,000

Explanation / Answer

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Income statement

For the year ended 31 december 2014

Cost of goods manufactured Begining raw material inventory 129000 Raw material purchase 255000 Less:Ending raw material inventory (72000) Raw material used 312000 Direct labor 213000 Factory overhead Indirect manufacturing labor 101000 Indirect material 29000 Plant insurance 9000 Depreciation -plant 47000 plant utilities 21000 Repair and maintenance -plant 17000 Equipment lease cost 61000 Total factory overhead 285000 Total manufacturing cost 810000 beginning WIP 166000 Less:ending WIP (144000) Cost of goods manufactured 832000

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