Exercise 2-31 Prepare Statements for a Manufacturing Company (L.O. 2, 4) The fol

Question

Exercise 2-31 Prepare Statements for a Manufacturing Company (L.O. 2, 4) The following balances are from the accounts of Secol Machining Company: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 98,100 $ 108,700 Work-in-process inventory 109,400 107,500 Finished goods inventory 44,100 44,700 Direct materials purchased during the year amount to $512,600, and the cost of goods sold for the year was $1,885,000. Required: Prepare a cost of goods sold statement. (Input all amounts as positive values. Omit the "$" sign in your response.) Secol Machining Company Cost of Goods Sold Statement For the Year Ended December 31 $ Manufacturing costs: Direct materials: $ $ Total manufacturing costs Total costs of work in process $ $ $ $ how do I find the other manufacturing costs???

Explanation / Answer

Prepare a cost of goods sold statement.

Manufacturing cost

direct material = 502000

total manufacturing cost = 1883700

total cost of work in process = 1993100

Other manufacturing cost = 1381700

Beginning work in process 109400 Beginning raw material inventory 98100 direct mateiral purchase 512600 Less: Ending raw material inventory (108700) 502000 Other manufacturing cost 1381700 Total manufacturing cost 1883700 Total cost of work in process 1993100 Less: ENding work in process (107500) Cost of goods manufactured 1885600 Beginning finished goods inventory 44100 Cost of goods manufactured 1885600 cost of goods available for sale 1929700 Less: Ending finished goods inventory (44700) Cost of goods sold 1885000

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.