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In: Operations Management

Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company...

Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories January 1 January 31
Materials $231,500 $201,410
Work in process 155,110 134,940
Finished goods 120,380 136,960
Direct labor $416,700
Materials purchased during January 444,480
Factory overhead incurred during January:
Indirect labor 44,450
Machinery depreciation 26,850
Heat, light, and power 9,260
Supplies 7,410
Property taxes 6,480
Miscellaneous costs 12,040

a. Prepare a cost of goods manufactured statement for January.

Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended January 31
Work in process inventory, January 1 $
Direct materials:
Materials inventory, January 1 $
Purchases
Cost of materials available for use $
Materials inventory, January 31
Cost of direct materials used in production $
Direct labor
Factory overhead:
Indirect labor $
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
Total factory overhead
Total manufacturing costs incurred during January
Total manufacturing costs $
Work in process inventory, January 31
Cost of goods manufactured $

Solutions

Expert Solution

Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended January 31
Work in process inventory, January 1    $155,110
Direct materials:
Materials inventory, January 1 $231,500
Purchases $444,480
Cost of materials available for use $675,980
Materials inventory, January 31 $201,410
Cost of direct materials used in the production $474,570
Direct labor $416,700
Factory overhead:
Indirect labor $44,450
Machinery depreciation $26,850
Heat, light, and power $ 9,260
Supplies    $ 7,410
Property taxes $ 6,480
Miscellaneous costs $12,040
Total factory overhead $106,490
Total manufacturing costs incurred during January $997,760
Total manufacturing costs $1,152,870
Work in process inventory, January 31 $134,940
Cost of goods manufactured $1,017,930

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