ttps//edugen.wileyplus.com/edugen/student/mainfr.uni Weygandt, Managerial Accoun

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ttps//edugen.wileyplus.com/edugen/student/mainfr.uni Weygandt, Managerial Accounting, 7e actice A Gradebook ORION Downloadable cTextbook nment Problem 1-4A (Part Level Submission) The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017. $5,200 16,800 29,700 9,550 Raw Materials Inventory 7/1/16 Raw Materials Inventory 6/30/17 $51,100 41,600 96,800 27,800 21,300 27,900 144,350 26,360 34,600 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash Finished Goods Inventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor 563,900 4,600 64,300 9,610 2,500 Accounts Recelvable 97,200 37,900 (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) Cost of Goods ere to search

Explanation / Answer

Prepare cost of goods manufactured schedule :

Beginning work in process 21300 Direct material used Beginning raw material inventory 51100 Raw material purchase 97200 Raw material available for use 148300 Less; Ending raw material inventory (41600) Direct material used 106700 Direct labour 144350 Factory overhead Indirect labour 26360 Factory insurance 5200 Factory repairs 2500 Factory property taxes 9610 Factory machine dep 16800 Factory utilities 29700 Plant manager's salary 64300 Total factory overhead 154470 Total manufacturing cost 405520 Total cost of work in process 426820 Less: Ending work in process (27900) Cost of goods manufactured 398920

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