Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $151,500 $128,780 Work in process 101,510 86,280 Finished goods 77,270 86,280 Direct labor $272,700 Materials purchased during January 290,880 Factory overhead incurred during January: Indirect labor 29,090 Machinery depreciation 17,570 Heat, light, and power 6,060 Supplies 4,850 Property taxes 4,240 Miscellaneous costs 7,880 a. Prepare a cost of goods manufactured statement for January. Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 Work in process inventory, January 1 $fill in the blank 9444c60dbfee009_2 Direct materials: Materials inventory, January 1 $fill in the blank 9444c60dbfee009_4 Purchases fill in the blank 9444c60dbfee009_6 Cost of materials available for use $fill in the blank 9444c60dbfee009_8 Materials inventory, January 31 fill in the blank 9444c60dbfee009_10 Cost of direct materials used in production $fill in the blank 9444c60dbfee009_12 Direct labor fill in the blank 9444c60dbfee009_14 Factory overhead: Indirect labor $fill in the blank 9444c60dbfee009_16 Machinery depreciation fill in the blank 9444c60dbfee009_18 Heat, light, and power fill in the blank 9444c60dbfee009_20 Supplies fill in the blank 9444c60dbfee009_22 Property taxes fill in the blank 9444c60dbfee009_24 Miscellaneous costs fill in the blank 9444c60dbfee009_26 Total factory overhead fill in the blank 9444c60dbfee009_27 Total manufacturing costs incurred during January fill in the blank 9444c60dbfee009_28 Total manufacturing costs $fill in the blank 9444c60dbfee009_29 fill in the blank 9444c60dbfee009_31 Cost of goods manufactured $fill in the blank 9444c60dbfee009_32 Feedback a. Add the beginning materials and purchases and subtract the ending materials. Add direct labor and factory overhead. This will give total manufacturing costs. Then, add the total manufacturing costs to the beginning work in process and subtract the ending work in process. b. Determine the cost of goods sold for January.
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $151,500 $128,780 Work in process 101,510 86,280 Finished goods 77,270 86,280 Direct labor $272,700 Materials purchased during January 290,880 Factory overhead incurred during January: Indirect labor 29,090 Machinery depreciation 17,570 Heat, light, and power 6,060 Supplies 4,850 Property taxes 4,240 Miscellaneous costs 7,880 a. Prepare a cost of goods manufactured statement for January. Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 Work in process inventory, January 1 $fill in the blank 9444c60dbfee009_2 Direct materials: Materials inventory, January 1 $fill in the blank 9444c60dbfee009_4 Purchases fill in the blank 9444c60dbfee009_6 Cost of materials available for use $fill in the blank 9444c60dbfee009_8 Materials inventory, January 31 fill in the blank 9444c60dbfee009_10 Cost of direct materials used in production $fill in the blank 9444c60dbfee009_12 Direct labor fill in the blank 9444c60dbfee009_14 Factory overhead: Indirect labor $fill in the blank 9444c60dbfee009_16 Machinery depreciation fill in the blank 9444c60dbfee009_18 Heat, light, and power fill in the blank 9444c60dbfee009_20 Supplies fill in the blank 9444c60dbfee009_22 Property taxes fill in the blank 9444c60dbfee009_24 Miscellaneous costs fill in the blank 9444c60dbfee009_26 Total factory overhead fill in the blank 9444c60dbfee009_27 Total manufacturing costs incurred during January fill in the blank 9444c60dbfee009_28 Total manufacturing costs $fill in the blank 9444c60dbfee009_29 fill in the blank 9444c60dbfee009_31 Cost of goods manufactured $fill in the blank 9444c60dbfee009_32 Feedback a. Add the beginning materials and purchases and subtract the ending materials. Add direct labor and factory overhead. This will give total manufacturing costs. Then, add the total manufacturing costs to the beginning work in process and subtract the ending work in process. b. Determine the cost of goods sold for January.
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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Statement of Cost of Goods Manufactured for a Manufacturing Company
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:
Inventories | January 1 | January 31 | ||
Materials | $151,500 | $128,780 | ||
Work in process | 101,510 | 86,280 | ||
Finished goods | 77,270 | 86,280 |
Direct labor | $272,700 | |
Materials purchased during January | 290,880 | |
Factory overhead incurred during January: | ||
Indirect labor | 29,090 | |
Machinery |
17,570 | |
Heat, light, and power | 6,060 | |
Supplies | 4,850 | |
Property taxes | 4,240 | |
Miscellaneous costs | 7,880 |
a. Prepare a cost of goods manufactured statement for January.
Sandusky Manufacturing Company | |||
Statement of Cost of Goods Manufactured | |||
For the Month Ended January 31 | |||
Work in process inventory, January 1 | $fill in the blank 9444c60dbfee009_2 | ||
Direct materials: | |||
Materials inventory, January 1 | $fill in the blank 9444c60dbfee009_4 | ||
Purchases | fill in the blank 9444c60dbfee009_6 | ||
Cost of materials available for use | $fill in the blank 9444c60dbfee009_8 | ||
Materials inventory, January 31 | fill in the blank 9444c60dbfee009_10 | ||
Cost of direct materials used in production | $fill in the blank 9444c60dbfee009_12 | ||
Direct labor | fill in the blank 9444c60dbfee009_14 | ||
Factory overhead: | |||
Indirect labor | $fill in the blank 9444c60dbfee009_16 | ||
Machinery depreciation | fill in the blank 9444c60dbfee009_18 | ||
Heat, light, and power | fill in the blank 9444c60dbfee009_20 | ||
Supplies | fill in the blank 9444c60dbfee009_22 | ||
Property taxes | fill in the blank 9444c60dbfee009_24 | ||
Miscellaneous costs | fill in the blank 9444c60dbfee009_26 | ||
Total factory overhead | fill in the blank 9444c60dbfee009_27 | ||
Total |
fill in the blank 9444c60dbfee009_28 | ||
Total manufacturing costs | $fill in the blank 9444c60dbfee009_29 | ||
fill in the blank 9444c60dbfee009_31 | |||
Cost of goods manufactured | $fill in the blank 9444c60dbfee009_32 |
a. Add the beginning materials and purchases and subtract the ending materials. Add direct labor and factory overhead. This will give total manufacturing costs. Then, add the total manufacturing costs to the beginning work in process and subtract the ending work in process.
b. Determine the cost of goods sold for January.
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