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Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April:...

Cost of Goods Sold, Cost of Goods Manufactured

Glenville Company has the following information for April:

Cost of direct materials used in production $54,000
Direct labor 66,000
Factory overhead 20,000
Work in process inventory, April 1 45,000
Work in process inventory, April 30 50,000
Finished goods inventory, April 1 25,000
Finished goods inventory, April 30 17,000

a. For April, determine the cost of goods manufactured.

Using the data given, prepare a statement of Cost of Goods Manufactured.

Glenville Company
Statement of Cost of Goods Manufactured
Work in process inventory, April 1 $
Cost of direct materials used in production $
Direct labor
Factory overhead
Total manufacturing costs incurred in April
Total manufacturing costs $
Work in process inventory, April 30
Cost of goods manufactured $

b. For April, determine the cost of goods sold.

Using the data given, prepare a statement of Cost of Goods Sold.

Glenville Company
Statement of Cost of Goods Sold
Finished goods inventory, April 1 $
Cost of goods manufactured
Cost of finished goods available for sale $
Finished goods inventory, April 30
Cost of goods sold $

Solutions

Expert Solution

a. For April, determine the cost of goods manufactured.

Using the data given, prepare a statement of Cost of Goods Manufactured.

Glenville Company
Statement of Cost of Goods Manufactured
Work in process inventory, April 1 $45000
Cost of direct materials used in production $54000
Direct labor 66000
Factory overhead 20000
Total manufacturing costs incurred in April 140000
Total manufacturing costs $185000
Work in process inventory, April 30 -50000
Cost of goods manufactured $135000

b. For April, determine the cost of goods sold.

Using the data given, prepare a statement of Cost of Goods Sold.

Glenville Company
Statement of Cost of Goods Sold
Finished goods inventory, April 1 $25000
Cost of goods manufactured 135000
Cost of finished goods available for sale $160000
Finished goods inventory, April 30 -17000
Cost of goods sold $143000

ekkarill92 answered 2 years ago
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