Simply Sweets has provided the following relating to the most recent month (August 31, 2020) of operations, for their main product, cookies.Baker's salary3,000Finished goods inventory, beginning1,000Finished goods inventory, ending3,000General & administrative expenses3,500Indirect materials500Production Supervisor, Salary4,000Purchases of raw materials11,000Raw materials inventory, ending2,000Raw materials inventory, beginning1,000Rent on production factory2,000Rent, retail store1,000Sales40,000Utilities on production factory500Utilities, retail store500Wages, retail staff3,000WIP inventory, beginning2,500WIP inventory, ending4,500 Required: Prepare a schedule of cost of goods manufactured in good formatCalculate the cost of goods sold Do not give answer in image

The cost of goods sold includes the cost of goods that are sold during the period. The cost of goods…

Answered: Simply Sweets has provided the…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5E: Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31,...

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Simply Sweets has provided the following relating to the most recent month (August 31, 2020) of operations, for their main product, cookies.

Baker's salary	3,000
Finished goods inventory, beginning	1,000
Finished goods inventory, ending	3,000
General & administrative expenses	3,500
Indirect materials	500
Production Supervisor, Salary	4,000
Purchases of raw materials	11,000
Raw materials inventory, ending	2,000
Raw materials inventory, beginning	1,000
Rent on production factory	2,000
Rent, retail store	1,000
Sales	40,000
Utilities on production factory	500
Utilities, retail store	500
Wages, retail staff	3,000
WIP inventory, beginning	2,500
WIP inventory, ending	4,500

Required:

Prepare a schedule of cost of goods manufactured in good format
Calculate the cost of goods sold

Do not give answer in image

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