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 $191,250 $162,560 Work in process 128,140 108,920 Finished goods 97,540 108,920 Direct labor $344,250 Materials purchased during January 367,200 Factory overhead incurred during January: Indirect labor 36,720 Machinery depreciation 22,190 Heat, light, and power 7,650 Supplies 6,120 Property taxes 5,360 Miscellaneous costs 9,950 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 $ Direct materials: $ $ $ Factory overhead: $ Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs $ Cost of goods manufactured $ 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 $191,250 $162,560 Work in process 128,140 108,920 Finished goods 97,540 108,920 Direct labor $344,250 Materials purchased during January 367,200 Factory overhead incurred during January: Indirect labor 36,720 Machinery depreciation 22,190 Heat, light, and power 7,650 Supplies 6,120 Property taxes 5,360 Miscellaneous costs 9,950 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 $ Direct materials: $ $ $ Factory overhead: $ Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs $ Cost of goods manufactured $ b. Determine the cost of goods sold for January.$
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 53P: Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold Bisby Company manufactures...
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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 | $191,250 | $162,560 | ||
Work in process | 128,140 | 108,920 | ||
Finished goods | 97,540 | 108,920 |
Direct labor | $344,250 | |
Materials purchased during January | 367,200 | |
Factory |
||
Indirect labor | 36,720 | |
Machinery |
22,190 | |
Heat, light, and power | 7,650 | |
Supplies | 6,120 | |
Property taxes | 5,360 | |
Miscellaneous costs | 9,950 |
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 | |||
$ | |||
Direct materials: | |||
$ | |||
$ | |||
$ | |||
Factory overhead: | |||
$ | |||
Total factory overhead | |||
Total |
|||
Total manufacturing costs | $ | ||
Cost of goods manufactured | $ |
b. Determine the cost of goods sold for January.
$
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