1.The finished goods beginning inventory = $100,000; The finished goods ending inventory = $50,000; The work...

1.The finished goods beginning inventory = $100,000; The finished goods ending inventory = $50,000; The work in process inventory at the beginning of the year was $150,000 and at the end of the year $50,000; The raw materials inventory at the beginning of the year $80,000 and at the end of the year was $40,000.

Manufacturing costs and selling and administrative expenses were as follows: indirect materials = $10,000; factory utilities = $20,000; raw material purchases = $30,000 in June and $40,000 in May; direct labor cost related to wages of factory employees = $80,000; indirect labor = $20,000; factory supervision = $10,000; other factory costs = $10,000; selling expenses = $20,000; depreciation factory machinery = $40,000 and depreciation of office equipment = $50,000; sales commissions = $20,000; office supplies = $10,000; factory supplies = $20,000; marketing expenses = $60,000; and deprecation of office building = $50,000; the company closed its year end with sales revenue of $1,000,000.

Required: Prepare schedules for direct materials, direct labor, factory overhead, total manufacturing costs and cost of goods sold.

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ekkarill92 answered 1 year ago

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