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 |
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