Question

In: Accounting

Account Balance Advertising expense 22,000 Direct material purchases 60,000 Paint for direct materials 15,000 Direct labour...

Account Balance
Advertising expense 22,000
Direct material purchases 60,000
Paint for direct materials 15,000
Direct labour hours 220,000
Factory utilities 15,000
Factory repairs 12,000
Amortization, office printers 85,000
Amortization, factory chairs 25,000
Indirect materials 16,000
Indirect labour 31,000
Sale Commissions 4,000
Office Utilities 6,000
By-product sales 22,000
Sales 420,000
Promotional items 82,000
Cost per labour hour 20
Materials inventory, July 1, 19 50,000
Work-in-Process Inventory, July 1, 19 15,000
Finished Goods Inventory, July 1, 19 72,000
Materials Inventory, June 30, 20 10,000
Work-in-Process Inventory, June 30, 20 40,000
Finished Goods Inventory, June 30, 20 65,000

What is the total COGM

Select one:

a. 4,629,000

b. 4,661,000

c. 4,589,000

d. 4,596,000

e. 4,614,000

f. None of the above

Solutions

Expert Solution

Correct answer-------------f. None of the above

Working

Schedule of Cost of Goods Manufactured
Direct Material
Raw material Inventory Beginning $ 50,000
Raw material Purchased $ 60,000
Raw material available for use $ 110,000
Less: Raw material Inventory Ending $ 10,000
Direct Material Used $ 100,000
Direct labor $ 220,000
Manufacturing overheads
Paint for direct materials $ 15,000.00
Factory utilities $         15,000.00
Factory repairs $         12,000.00
Amortization, factory chairs $         25,000.00
Indirect materials $         16,000.00
Indirect labour $         31,000.00
Total Manufacturing overheads $ 114,000
Total manufacturing Cost During the month $ 434,000
Add: Work in process Beginning $ 15,000
Total Work in Process $ 449,000
Less: Work in progress Ending $ 40,000
Cost of Goods Manufactured $ 409,000

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