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Oollowing account balances for the month ending August 31, unless otherwise note Direct Materials inventory (August1) Direct Materials inventory (August 31) Work-in-process inventory (August1) Work-in-process inventory (August 31) Finished goods inventory (August 1) Finished goods inventory (August 31) Direct materials purchased $ 150,250 125,600 $ 140,400 171,000 540,000 510,000 500,000 84,000 480,000 186,000 12,000 264,000 123,600 28,800 135,000 92,400 25,000 305,400 30,000 2,900,000 Indirect materials used Direct manufacturing labor Indirect manufacturing labor Salespersons' company vehicle costs Depreciation of manufacturing equipment Depreciation of office equipment Depreciation of plant building Miscellaneous plant overhead Plant utilities Accounts Receivable General office expenses Marketing distribution costs Revenues Required: Prepare the cost of goods manufactured schedule for the month of August.

Oollowing account balances for the month ending August 31, unless otherwise note Direct Materials inventory (August1) Direct Materials inventory (August 31) Work-in-process inventory (August1) Work-in-process inventory (August 31) Finished goods inventory (August 1) Finished goods inventory (August 31) Direct materials purchased $ 150,250 125,600 $ 140,400 171,000 540,000 510,000 500,000 84,000 480,000 186,000 12,000 264,000 123,600 28,800 135,000 92,400 25,000 305,400 30,000 2,900,000 Indirect materials used Direct manufacturing labor Indirect manufacturing labor Salespersons' company vehicle costs Depreciation of manufacturing equipment Depreciation of office equipment Depreciation of plant building Miscellaneous plant overhead Plant utilities Accounts Receivable General office expenses Marketing distribution costs Revenues Required: Prepare the cost of goods manufactured schedule for the month of August.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 58P: Cost of Goods Manufactured, Income Statement W. W. Phillips Company produced 4,000 leather recliners...
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BigScreen Corporation manufactures and sells 50-inch television sets. The Company had the Oollowing account balances for the month ending August 31, unless otherwise noted: Direct Materials inventory (August1) Direct Materials inventory (August 31) Work-in-process inventory (August1) Work-in-process inventory (August 31) Finished goods inventory (August 1) Finished goods inventory (August 31) Direct materials purchased $150,250 125,600 $ 140,400 171,000 540,000 510,000 500,000 84,000 480,000 186,000 12,000 264,000 123,600 28,800 135,000 92,400 25,000 305,400 30,000 2,900,000 Indirect materials used Direct manufacturing labor Indirect manufacturing labor Salespersons' company vehicle costs Depreciation of manufacturing equipment Depreciation of office equipment Depreciation of plant building Miscellaneous plant overhead Plant utilities Accounts Receivable General office expenses Marketing distribution costs Revenues Required: Prepare the cost of goods manufactured schedule for the month of August.
Transcribed Image Text:BigScreen Corporation manufactures and sells 50-inch television sets. The Company had the Oollowing account balances for the month ending August 31, unless otherwise noted: Direct Materials inventory (August1) Direct Materials inventory (August 31) Work-in-process inventory (August1) Work-in-process inventory (August 31) Finished goods inventory (August 1) Finished goods inventory (August 31) Direct materials purchased $150,250 125,600 $ 140,400 171,000 540,000 510,000 500,000 84,000 480,000 186,000 12,000 264,000 123,600 28,800 135,000 92,400 25,000 305,400 30,000 2,900,000 Indirect materials used Direct manufacturing labor Indirect manufacturing labor Salespersons' company vehicle costs Depreciation of manufacturing equipment Depreciation of office equipment Depreciation of plant building Miscellaneous plant overhead Plant utilities Accounts Receivable General office expenses Marketing distribution costs Revenues Required: Prepare the cost of goods manufactured schedule for the month of August.
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