Question

In: Accounting

what items from the list above are needed for Cost of good manufactured for a month:...

what items from the list above are needed for Cost of good manufactured for a month: Company Beginning Finished goods Inventory 13000 Beginning work in process inventory 18500 Beginning raw materials inventory 6500 Rental cost on factory equipment 22000 Direct Labor 16400 Ending finished goods inventory 21250 Ending work in process inventory 23450 Ending raw maetrials inventory 7500 Factory utilities 11670 Factory supplies used 9300 Indirect Labor 2750 Repairs-factory equipment 5500 Raw materials purchases 40000 Factory equipment, net 240000

Solutions

Expert Solution

Following items are needed for Calculating cost of goods manufactured for a month:
Beginning Work in process Inventory $   18,500
Beginning Raw Material Inventory $    6,500
Raw Material Purchases $ 40,000
Raw material available for use $ 46,500
Ending Raw Material Inventory $   -7,500
Raw Material used $ 39,000
Rental cost on factory equipment $ 22,000
Direct Labor $ 16,400
Factory utilities $ 11,670
Factory supply used $    9,300
Indirect Labor $    2,750
Repair Factory equipment $    5,500
Total manufacturing cost for this month $1,06,620
Total Manufacturing costs $1,25,120
Ending Work in process inventory $ -23,450
Costs of goods manufactured for month $1,01,670

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