The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget forSeptember. The controller assembled the following information for constructing the cost of goods soldbudget:Direct materials enamelpaintporcelaintotalTotal directmaterialspurchasesbudgeted forSeptember$33,570$7,050$130,920$171,540Estimatedinventory,September 12,7306,55010,92020,200Desiredinventory,September 302,5002.2806,00010,780DecorationDepartmentDirect Labor CostKiln DepartmentTotalTotal direct laborcost budgeted forSeptember$53,460$155,030$208,490Finished goods inventories:DishBowlFigurineTotalEstimated inventory, September 1 $5,760$3,280$2,710$11,750Desired inventory, September 303,6904,5504,32012,560 Work in process inventories:Estimated inventory, September1$3,510Desired inventory, September 301,960Budgeted factory overhead costs for September:Indirect factory wages$79,200Depreciation of plant and equipment11,660Power and light6,030Indirect materials3,280Total100,170Use the preceding information to prepare a cost of goods sold budget for September. For those boxesin which you must enter subtracted or negative numbers use a minus sign.

Name: The controller of MingWare Ceramics Inc. wishes to prepare a cost of
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Description: The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget forSeptember. The controller assembled the following information for constructing the cost of goods soldbudget:Direct materials enamelpaintporcelaintotalTotal dir

Cost of goods sold in the business means total costs incurred for production and manufacturing of…

Business

Accounting

Work in process inventories: Estimated inventory, September 1$3,510 Desired inventory, September 30 1,960 Budgeted factory overhead costs for September: Indirect factory wages $79,200 Depreciation of plant and equipment 11,660 Power and light 6,030 Indirect materials 3,280 Total 100,170 Use the preceding information to prepare a cost of goods sold budget for September. For those be in which you must enter subtracted or negative numbers use a minus sign.

Work in process inventories: Estimated inventory, September 1$3,510 Desired inventory, September 30 1,960 Budgeted factory overhead costs for September: Indirect factory wages $79,200 Depreciation of plant and equipment 11,660 Power and light 6,030 Indirect materials 3,280 Total 100,170 Use the preceding information to prepare a cost of goods sold budget for September. For those be in which you must enter subtracted or negative numbers use a minus sign.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 16E

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