In: Accounting
Problem Set A p. 59
P2-1A. Schedule of Cost of Goods Manufactured and Sold The Following amounts are available for 2019 for Bourne Manufacturing Company:
Administrative salaries (non-factory)…………………………………………………………………………………………$70,000
Administrative rent (non-factory)…………………………………………………………………………………………….35,000
Advertising and promotion expense………………………………………………………………………………………..41,000
Depreciation-administrative……………………………………………………………………………………………………22,000
Depreciation-factory……………………………………………………………………………………………………………..30,000
Depreciation-selling………………………………………………………………………………………………………………17,000
Direct labor…………………………………………………………………………………………………………………………..175,000
Factory rent…………………………………………………………………………………………………………………………18,000
Factory supplies used………………………………………………………………………………………………………….12,000
Finished goods inventory (January 1)………………………………………………………………………………….57,000
Finished goods Inventory (December 31)…………………………………………………………………………..50,000
Indirect materials used………………………………………………………………………………………………………14,000
Indirect labor………………………………………………………………………………………………………………………19,000
Materials inventory (January 1)………………………………………………………………………………………….15,000
Materials inventory (December 31)……………………………………………………………………………………..20,000
Net delivered cost of materials purchased…………………………………………………………………………….138,000
Other factory overhead……………………………………………………………………………………………………………26,000
Sales………………………………………………………………………………………………………………………………………845,000
Sales Salaries expense……………………………………………………………………………………………………………72,000
Work-in-process inventory (January 1)…………………………………………………………………………………18,000
Work-in-process inventory (December 31)……………………………………………………………………………20,000
Required
Using the above data, prepare a schedule of cost of goods manufactured and sold.