Prepare a statement of cost of goods manufactured for the year ended December 31 for FJW Manufacturing company.
FJW Manufacturing Co. produces only one product. You have obtained the following
information from the corporation’s books and records for the year ended December 31, 2021:
a. Total
labor, and factory
b. Cost of goods manufactured during the year was $970,000.
c. Factory overhead charged to work in process was 75% of direct labor cost and 27% of the
total manufacturing cost.
d. The beginning work in process inventory, January 1, was 40% of the ending work in
process inventory, December 31.
Required:
Prepare a statement of cost of goods manufactured for the year ended December 31 for FJW
Manufacturing company.
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