Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information...

Cost of Goods Manufactured and Sold

Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year:

Direct labor cost	$493,520
Purchases of direct materials	375,280
Freight-in on materials	7,750
Factory supplies used	17,210
Factory utilities	53,300
Commissions paid	79,606
Factory supervision and indirect labor	165,870
Advertising	144,740
Materials handling	17,960
Work-in-process inventory, January 1	203,020
Work-in-process inventory, December 31	118,330
Direct materials inventory, January 1	39,950
Direct materials inventory, December 31	34,170
Finished goods inventory, January 1	58,220
Finished goods inventory, December 31	61,010

Required:

1. Prepare a cost of goods manufactured statement.

Anglin Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Direct materials:
	$


Materials available	$

Direct materials used in production		$

Manufacturing overhead:
	$



Total overhead costs
Total manufacturing costs added		$


Cost of goods manufactured		$

2. Prepare a cost of goods sold statement.

Anglin Company
Statement of Cost of Goods Sold
For the Year Ended December 31
	$

	$

Cost of goods sold	$

Solutions

Expert Solution

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ekkarill92 answered 5 months ago

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