Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production $63,000 Direct labor 76,000 Factory overhead 21,000 Work in process inventory, March 1 56,000 Work in process inventory, March 31 49,680 Finished goods inventory, March 1 22,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured Work in process inventory, March 1 $fill in the blank e11e4706704bfd4_2 Cost of direct materials used in production $fill in the blank e11e4706704bfd4_4 Direct labor fill in the blank e11e4706704bfd4_6 Factory overhead fill in the blank e11e4706704bfd4_8 Total manufacturing costs incurred during March fill in the blank e11e4706704bfd4_9 Total manufacturing costs $fill in the blank e11e4706704bfd4_10 Less direct labor fill in the blank e11e4706704bfd4_12 Cost of goods manufactured $fill in the blank e11e4706704bfd4_13 b. For March, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Timbuk 3 Company Statement of Cost of Goods Sold $fill in the blank 6b55a5010fbef96_2 fill in the blank 6b55a5010fbef96_4 $fill in the blank 6b55a5010fbef96_6 fill in the blank 6b55a5010fbef96_8 Cost of goods sold $fill in the blank 6b55a5010fbef96_9
Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production $63,000 Direct labor 76,000 Factory overhead 21,000 Work in process inventory, March 1 56,000 Work in process inventory, March 31 49,680 Finished goods inventory, March 1 22,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured Work in process inventory, March 1 $fill in the blank e11e4706704bfd4_2 Cost of direct materials used in production $fill in the blank e11e4706704bfd4_4 Direct labor fill in the blank e11e4706704bfd4_6 Factory overhead fill in the blank e11e4706704bfd4_8 Total manufacturing costs incurred during March fill in the blank e11e4706704bfd4_9 Total manufacturing costs $fill in the blank e11e4706704bfd4_10 Less direct labor fill in the blank e11e4706704bfd4_12 Cost of goods manufactured $fill in the blank e11e4706704bfd4_13 b. For March, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Timbuk 3 Company Statement of Cost of Goods Sold $fill in the blank 6b55a5010fbef96_2 fill in the blank 6b55a5010fbef96_4 $fill in the blank 6b55a5010fbef96_6 fill in the blank 6b55a5010fbef96_8 Cost of goods sold $fill in the blank 6b55a5010fbef96_9
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
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Cost of Goods Sold, Cost of Goods Manufactured
Timbuk 3 Company has the following information for March:
Cost of direct materials used in production | $63,000 |
Direct labor | 76,000 |
Factory overhead | 21,000 |
Work in process inventory, March 1 | 56,000 |
Work in process inventory, March 31 | 49,680 |
Finished goods inventory, March 1 | 22,000 |
Finished goods inventory, March 31 | 16,000 |
a. For March, determine the cost of goods manufactured.
Using the data given, prepare a statement of Cost of Goods Manufactured.
Timbuk 3 Company | ||
Statement of Cost of Goods Manufactured | ||
Work in process inventory, March 1 | $fill in the blank e11e4706704bfd4_2 | |
Cost of direct materials used in production | $fill in the blank e11e4706704bfd4_4 | |
Direct labor | fill in the blank e11e4706704bfd4_6 | |
Factory overhead | fill in the blank e11e4706704bfd4_8 | |
Total |
fill in the blank e11e4706704bfd4_9 | |
Total manufacturing costs | $fill in the blank e11e4706704bfd4_10 | |
Less direct labor | fill in the blank e11e4706704bfd4_12 | |
Cost of goods manufactured | $fill in the blank e11e4706704bfd4_13 | |
b. For March, determine the cost of goods sold.
Using the data given, prepare a statement of Cost of Goods Sold.
Timbuk 3 Company | |
Statement of Cost of Goods Sold | |
$fill in the blank 6b55a5010fbef96_2 | |
fill in the blank 6b55a5010fbef96_4 | |
$fill in the blank 6b55a5010fbef96_6 | |
fill in the blank 6b55a5010fbef96_8 | |
Cost of goods sold | $fill in the blank 6b55a5010fbef96_9 |
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