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In: Accounting

Gaby Manufacturing Company had the following account balances for the quarter ending September 30, unless otherwise...

Gaby Manufacturing Company had the following account balances for the quarter ending September 30, unless otherwise noted:

Amortization of manufacturing equipment                   $88,000

Amortization of office equipment                                      41,200

Direct manufacturing labour                                             160,000

Direct materials used                                                           126,000

Finished goods inventory (July 1)                                    180,000

Finished goods inventory (September 30)                      170,000

General office expenses                                                       101,800

Indirect manufacturing labour                                            62,000

Indirect materials used                                                         28,000

Marketing distribution costs                                                10,000

Miscellaneous plant overhead                                             45,000

Plant utilities                                                                           30,800

Property taxes on plant building                                          9,600

Property taxes on salespersons' company vehicles           4,000

Work-in-process inventory (July 1)                                    46,800

Work-in-process inventory (September 30)                     57,000

Required:

a.    Prepare a cost of goods manufactured schedule for the quarter.

b.    Prepare a cost of goods sold schedule for the quarter.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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