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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 $

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ekkarill92 answered 1 year ago
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