Question

In: Accounting

Problema From the account balances listed below, prepare a schedule of cost of goods manufactured for...

Problema

From the account balances listed below, prepare a schedule of cost of goods manufactured for La Lave Manufacturing Company for the month ended December 31, 2018.

Account

Description

A/C

Balance

Account

Description

A/C

Balance

Finished Goods Inventory, December 31

$42,000

Raw Materials Purchases

$  95,000

Factory Supervisory Salaries

12,000

Work In Process Inventory, December 1

30,000

Income Tax Expense

18,000

Factory Utilities Expense

4,000

Raw Materials Inventory, December 1

12,000

Direct Labor

70,000

Work In Process Inventory, December 31

25,000

Raw Materials Inventory, December 31

19,000

Sales Salaries Expense

14,000

Sales Returns and Allowances

5,000

Factory Depreciation Expense

8,000

Indirect Labor

21,000

Finished Goods Inventory, December 1

35,000

Sales Discounts

3,000

Solución Problema II

Cost of Goods Manufactured Schedule

Work in process, December 1

Direct materials

    Raw materials inventory, December 1

$

    Raw materials purchases

    Total raw materials available for use

$

    Less:  Raw materials inventory, December 31

Direct materials used

$

Direct labor

Manufacturing Overhead

    Indirect Labor

$

    Factory supervisory salaries

    Factory depreciation expense

    Factory utilities expense

Total manufacturing overhead

Total manufacturing costs Added

Total cost of work in process

$

Less:  Work in process, December 31

Cost of goods manufactured

Solutions

Expert Solution

Cost of Goods Manufactured Schedule
Work in process, December 1 $30000
Direct materials
    Raw materials inventory, December 1 $12000
    Raw materials purchases $95000
    Total raw materials available for use $107000
    Less:  Raw materials inventory, December 31 $19000
Direct materials used $88000
Direct labor $70000
Manufacturing Overhead
    Indirect Labor $21000
    Factory supervisory salaries $12000
    Factory depreciation expense $8000
    Factory utilities expense $4000
Total manufacturing overhead $45000
Total manufacturing costs Added
Total cost of work in process $233000
Less:  Work in process, December 31 $25000
Cost of goods manufactured $208000

ekkarill92 answered 2 years ago
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