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Beginning Raw Materials Inventory Purchases of Raw Materials Raw Materials Available for Use Less V: Ending Raw Materials Inventory Direct Materials Used Direct Labor Manufacturing Overhead Costs Utility Costs for the Factory Depreciation of Factory and Equipment Factory Supervisor Salaries Insurance on the Factory Total Manufacturing Costs Add Less V: Add V: Beginning WIP Inventory Cost of Goods Manufactured Less V: Ending WIP Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Schedule of COGM & COGS $ 40,300 212700 253,000 21,100 i 9500 26,500 66,800 15700 $ $ 231900 224,700 118.500 575,100 27600 17700 i 585000 22600 8500 599100

Beginning Raw Materials Inventory Purchases of Raw Materials Raw Materials Available for Use Less V: Ending Raw Materials Inventory Direct Materials Used Direct Labor Manufacturing Overhead Costs Utility Costs for the Factory Depreciation of Factory and Equipment Factory Supervisor Salaries Insurance on the Factory Total Manufacturing Costs Add Less V: Add V: Beginning WIP Inventory Cost of Goods Manufactured Less V: Ending WIP Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Schedule of COGM & COGS $ 40,300 212700 253,000 21,100 i 9500 26,500 66,800 15700 $ $ 231900 224,700 118.500 575,100 27600 17700 i 585000 22600 8500 599100

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 3E: Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials...
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Create T-accounts for RM Inventory, WIP Inventory, FG Inventory, and COGS. Enter the above costs as debits and/or credits in the appropriate T-accounts in order to determine the ending balance in each. (Post beginning balances first. Post other entries in the order of amounts presented in the previous part.) RM Inventory 40300 WIP Inventory 27600 FG Inventory 22600 599100 599100 101 COGS
Transcribed Image Text:Create T-accounts for RM Inventory, WIP Inventory, FG Inventory, and COGS. Enter the above costs as debits and/or credits in the appropriate T-accounts in order to determine the ending balance in each. (Post beginning balances first. Post other entries in the order of amounts presented in the previous part.) RM Inventory 40300 WIP Inventory 27600 FG Inventory 22600 599100 599100 101 COGS
Beginning Raw Materials Inventory Purchases of Raw Materials Raw Materials Available for Use Less V: Ending Raw Materials Inventory Direct Materials Used Direct Labor Manufacturing Overhead Costs Utility Costs for the Factory Depreciation of Factory and Equipment Factory Supervisor Salaries Insurance on the Factory Total Manufacturing Costs Add V: Beginning WIP Inventory Less Cost of Goods Manufactured Add Ending WIP Inventory Less : Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Schedule of COGM & COGS $ 40,300 212700 253,000 21,100 i 9500 26,500 66,800 15700 $ $ 231900 224,700 118,500 575,100 27600 17700 585000 22600 8500 i 599100
Transcribed Image Text:Beginning Raw Materials Inventory Purchases of Raw Materials Raw Materials Available for Use Less V: Ending Raw Materials Inventory Direct Materials Used Direct Labor Manufacturing Overhead Costs Utility Costs for the Factory Depreciation of Factory and Equipment Factory Supervisor Salaries Insurance on the Factory Total Manufacturing Costs Add V: Beginning WIP Inventory Less Cost of Goods Manufactured Add Ending WIP Inventory Less : Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Schedule of COGM & COGS $ 40,300 212700 253,000 21,100 i 9500 26,500 66,800 15700 $ $ 231900 224,700 118,500 575,100 27600 17700 585000 22600 8500 i 599100
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