Homework Help is Here – Start Your Trial Now!
Business
Accounting
Prepare a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials) METLOCK COMPANY Cost of Goods Manufactured Schedule $

Prepare a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials) METLOCK COMPANY Cost of Goods Manufactured Schedule $

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter1: Introduction To Managerial Accounting
Section: Chapter Questions
Problem 5PB: Statement of cost of goods manufactured and income statement for a manufacturing company The...
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Prepare a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials.) METLOCK COMPANY Cost of Goods Manufactured Schedule $
Transcribed Image Text:Prepare a cost of goods manufactured schedule. (Assume that all raw materials used were direct materials.) METLOCK COMPANY Cost of Goods Manufactured Schedule $
The following data were taken from the records of Metlock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $53,000 48,400 97,400 23,100 28,000 27,100 143,150 25,760 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $32,700 4,800 18,600 30,500 8,750 563,100 5,000 64,200 9,610 1,700 97,000 41,000
Transcribed Image Text:The following data were taken from the records of Metlock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $53,000 48,400 97,400 23,100 28,000 27,100 143,150 25,760 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $32,700 4,800 18,600 30,500 8,750 563,100 5,000 64,200 9,610 1,700 97,000 41,000
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS