Question

Schedule of Cost of Goods Manufactured and Sold
The following amounts are available for 2016 for Bourne Manufacturing Company:

Administrative salaries (non-factory)	$210,000
Administrative rent (non-factory)	105,000
Advertising and promotion expense	123,000
Depreciation-administrative	66,000
Depreciation-factory	90,000
Depreciation-selling	51,000
Direct labor	525,000
Factory rent	54,000
Factory supplies used	36,000
Finished goods inventory (January 1)	171,000
Finished goods inventory (December 31)	156,000
Indirect material used	42,000
Indirect labor	57,000
Materials inventory (January 1)	39,000
Materials inventory (December 31)	60,000
Net delivered cost of materials purchased	414,000
Other factory overhead	78,000
Sales	2,535,000
Sales salaries expense	216,000
Work in process inventory (January 1)	54,000
Work in process inventory (December 31)	93,000

Using the above data, prepare a schedule of cost of goods manufactured and sold.
Do not use negative signs with any of your answers.

Bourne Manufacturing Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016
Direct material:
Beginning materials inventory		$Answer
AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventory		Answer
Cost of material available		Answer
Less:	AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventory	Answer
Total materials used		Answer
Less:	AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventory	Answer
Direct material used			$Answer
Direct labor			Answer
Manufacturing overhead
Indirect material		Answer
Indirect labor		Answer
Factory supplies used		Answer
Factory depreciation		Answer
Factory rent		Answer
AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead		Answer
Total manufacturing overhead			Answer
Total manufacturing costs for the year			Answer
Add:	AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead		Answer
Total cost of work in process during the year			Answer
Less:	AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead		Answer
Cost of goods manufactured			Answer
Add:	AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead		Answer
Cost of goods available for sale			Answer
Less:	AnswerCost of materials purchasedEnding materials inventoryIndirect materials usedBeginning work in process inventoryEnding work in process inventoryBeginning finished goods inventoryEnding finished goods inventoryOther factory overhead		Answer
Cost of goods sold			$Answer

Answer 1

direct material
Beginning materials iventory					39,000
cost of materials purchased					414,000
cost of material available					453,000
less ending materials inventory					60,000
total materials used					393,000
less indirect materials used					42,000
Direct materials used						351,000
direct labor						525,000
manufacturing overhead
Indirect material					42,000
indirect labor					57,000
Factory supplies used					36,000
Factory depreciation					90,000
Factory rent					54,000
other factory overhead					78,000
total manufacturing overhead						357,000
total manufacturing costs for the year						1,233,000
Add:beginning work in process inventory						54,000
total cost of work in process during the year						1,287,000
less:ending work in process inventory						93,000
cost of goods manufactured						1,194,000
Add:Beginning finished goods inventory						171,000
cost of goods available for sale						1,365,000
less:ending finished goods inventory						156,000
cost of goods sold						1,209,000