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Schedule of Cost of Goods Manufactured and Sold At December 31,2016, the end of its fiscal...

Schedule of Cost of Goods Manufactured and Sold
At December 31,2016, the end of its fiscal year, Kelly Metal Products Corporation collected the following data for 2016

Materials inventory, January 1 $128,000
Materials inventory, December 31 88,000
Work in process inventory, January 1 136,000
Work in process inventory, December 31 180,000
Finished goods inventory, January 1 84,000
Finished goods inventory, December 31 72,000
Net delivered cost of materials purchased 840,000
Direct labor 540,000
Indirect material 52,000
Indirect labor 100,000
Factory supplies used 48,000
Factory depreciation 312,000
Factory repairs and maintenance 112,000
Selling expenses (total) 252,000
Non-factory administrative expenses (total) 228,000

Prepare a schedule of cost of goods manufactured and sold for Kelly Metal Products Corporation for the year ended December 31,2016, assuming that there were no other manufacturing overhead items than those listed above.

Do not use negative signs with any of your answers.

Direct material:

Beginning materials inventory:

Cost of materials purchased

Less: Indirect materials used

Direct Materials Used

Direct Labor

Manufacturing overhead

indirect material

indirect labor

factory supplies used

factory depreciation

factory repairs and maintenance

total manufacturing overhead

ADD: Beginning Work in Process inventory

total cost of work in process during the year:

LESS: Ending work in process inventory:

Cost of goods manufactured:

ADD Beginning finished goods inventory:

Cost of goods available for sale:

LESS: Ending finished goods inventory:

Cost of goods sold:

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