Consider the following account balances (in thousands) for the Canseco Company: Beglnning of End of Canseco Company 2014 2014 Direct materials inventory 26,000 29,000 Work-in-process inventory 25,000 21,000 Finished goods inventory 17,000 20,000 Purchases of direct materials 79,000 Direct manufacturing labor 23,000 Indirect manufacturing labor 11.000 Plant insurance 8,000 Depreciation-plant, building, and equipment 10.000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 92,000 General and administrative costs 36,000 1. Prepare a schedule for the cost of goods manufactured for 2014.

Consider the following account balances (in thousands) for the Canseco Company: Beglnning of End of Canseco Company 2014 2014 Direct materials inventory 26,000 29,000 Work-in-process inventory 25,000 21,000 Finished goods inventory 17,000 20,000 Purchases of direct materials 79,000 Direct manufacturing labor 23,000 Indirect manufacturing labor 11.000 Plant insurance 8,000 Depreciation-plant, building, and equipment 10.000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 92,000 General and administrative costs 36,000 1. Prepare a schedule for the cost of goods manufactured for 2014.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...

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