Question

In: Accounting

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories...

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories

January 1

January 31

Materials $310,000 $276,600
Work in process 215,200 238,400
Finished goods 162,800 190,100

January 31

Direct labor $565,000
Materials purchased during the month 604,800
Factory overhead incurred during the month:
Indirect labor 60,440
Machinery depreciation 35,000
Heat, light, and power 13,600
Supplies 8,540
Property taxes 8,860
Miscellaneous costs 16,400
Required:
a. Prepare a cost of goods manufactured statement for January. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

b. Determine the cost of goods sold for January.

a. Prepare a cost of goods manufactured statement for January. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Sandusky Manufacturing Company

Statement of Cost of Goods Manufactured

For the Month Ended January 31

1

2

Direct materials:

3

4

5

Cost of materials available for use

6

7

Cost of direct materials used in production

8

9

Factory overhead:

10

11

12

13

14

15

16

Total factory overhead

17

Total manufacturing costs incurred in January

18

Total manufacturing costs

19

20

Cost of goods manufactured

b. Determine the cost of goods sold for January.

Solutions

Expert Solution

Requirement: a

Requirement: b


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