Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year:Direct labor cost$494,980Purchases of direct materialsFreight-in on materialsFactory supplies usedFactory utilitiesCommissions paidFactory supervision and indirect laborAdvertisingMaterials handlingWork-in-process inventory; January 1Work-in-process inventory, December 31Direct materials inventory, January 1Direct materials inventory, December 31Finished goods inventory, January 1Finished goods inventory, December 31Required:377,1107,62018,50054,20078,709162,630145,33017 680203,510117,48038.74032 95060 56061.6601. Prepare a cost of goods manufactured statement.2. Prepare a cost of goods sold statement. Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year:Direct labor cost$494,980Purchases of direct materials377,110Freight-in on materials7,620Factory supplies used18,500Factory utilities54,200Commissions paid78,709Factory supervision and indirect labor162,630Advertising145,830Materials handling17,680Work-in-process inventory, January 1203,510Work-in-process inventory, December 31117,480Direct materials inventory, January 138,740Direct materials inventory, December 3132,950Finished goods inventory, January 160,560Finished goods inventory, December 3161,660Required:1. Prepare a cost of goods manufactured statement.Anglin CompanyStatement of Cost of Goods ManufacturedFor the Year Ended December 31Direct materials: Required:1. Prepare a cost of goods manufactured statement.Anglin CompanyStatement of Cost of Goods ManufacturedFor the Year Ended December 31Direct materials:Materials availableDirect materials used in productionManufacturing overhead:Total overhead costsTotal manufacturing costs addedCost of goods manufactured2. Prepare a cost of goods sold statement.Anglin CompanyStatement of Cost of GoodsSoldFor the Year EndedDecember 31Cost of goods sold

Name: Anglin Company, a manufacturing firm, has supplied the following infor
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Description: Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year:Direct labor cost$494,980Purchases of direct materialsFreight-in on materialsFactory supplies usedFactory utilitiesCom

Cost of goods manufactured means total costs incurred on manufacturing and production of product. It…

Answered: Anglin Company, a manufacturing firm,…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter1: Introduction To Cost Accounting

Section: Chapter Questions

Problem 9P: Glasson Manufacturing Co. produces only one product. You have obtained the following information...

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Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost $494,980 Purchases of direct materials Freight-in on materials Factory supplies used Factory utilities Commissions paid Factory supervision and indirect labor Advertising Materials handling Work-in-process inventory; January 1 Work-in-process inventory, December 31 Direct materials inventory, January 1 Direct materials inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Required: 377,110 7,620 18,500 54,200 78,709 162,630 145,330 17 680 203,510 117,480 38.740 32 950 60 560 61.660 1. Prepare a cost of goods manufactured statement. 2. Prepare a cost of goods sold statement.

Required:
1. Prepare a cost of goods manufactured statement.
Anglin Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Direct materials:
Materials available
Direct materials used in production
Manufacturing overhead:
Total overhead costs
Total manufacturing costs added
Cost of goods manufactured
2. Prepare a cost of goods sold statement.
Anglin Company
Statement of Cost of Goods
Sold
For the Year Ended
December 31
Cost of goods sold

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