In: Accounting
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
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 | |||||