In: Accounting
An analysis of the accounts of Crane Company reveals the
following manufacturing cost data for the month ended September 30,
2020.
Inventories | Beginning | Ending | ||
Raw materials | $12,700 | $10,300 | ||
Work in process | 7,700 | 5,300 | ||
Finished goods | 10,800 | 12,600 |
Costs incurred: raw materials purchases $62,300, direct labor
$48,200, manufacturing overhead $26,900. The specific overhead
costs were: indirect labor $6,000, factory insurance $4,900,
machinery depreciation $6,400, machinery repairs $2,800, factory
utilities $3,900, miscellaneous factory costs $1,770. Assume that
all raw materials used were direct materials.
Prepare the cost of goods manufactured schedule for the month ended September 30, 2020.