Cost data for Firetree Manufacturing Inventories March 1 Materials Work in process Finished goods $224,000 147,840 116,480 Company for the month ended March 31 are as follows: March 31 $199,360 131,580 135,560 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs $403,200 430,080 43,010 25,980 8,960 7,170 6,270 11,650 a. Prepare a cost of goods manufactured statement for March. Firetree Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31
Cost data for Firetree Manufacturing Inventories March 1 Materials Work in process Finished goods $224,000 147,840 116,480 Company for the month ended March 31 are as follows: March 31 $199,360 131,580 135,560 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs $403,200 430,080 43,010 25,980 8,960 7,170 6,270 11,650 a. Prepare a cost of goods manufactured statement for March. Firetree Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31
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 8P: OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending...
Related questions
Question
Cost data for Firetree Manufacturing Company for the month ended March 31 are as follows:
Inventories March 1 March 31
Materials $224,000 $199,360
Work in process 147,840 131,580
Finished goods 116,480 135,560
Line Item Description Amount
Direct labor $403,200
Materials purchased during March 430,080
Factory overhead incurred during March:
Line Item Description Amount
Indirect labor 43,010
Machinery depreciation 25,980
Heat, light, and power 8,960
Supplies 7,170
Property taxes 6,270
Miscellaneous costs 11,650
Question Content Area
a. Prepare a cost of goods manufactured statement for March.
Firetree Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended March 31
Costs Type Amount Amount Amount
$- Select -
Direct materials:
$- Select -
- Select -
$- Select -
- Select -
$- Select -
- Select -
Factory overhead:
$- Select -
- Select -
- Select -
- Select -
- Select -
- Select -
Total factory overhead Total factory overhead
Total manufacturing costs incurred during March Total manufacturing costs incurred during March
Total manufacturing costs $Total manufacturing costs
- Select -
Cost of goods manufactured $Cost of goods manufactured
Question Content Area
b. Determine the cost of goods sold for March.
fill in the blank 1 of 1$
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning