An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 # 161,290 24,130 $187,540 $211,790
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 # 161,290 24,130 $187,540 $211,790
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:[ELTUI
Direct materials used
Direct labor
Manufacturing overhead
Indirect labor
Factory depreciation
Factory utilities
Total overhead
Total manufacturing costs
Total cost of work in process
Less: Work in process (12/31)
Cost of goods manufactured
21,060
36,940
76,380
$187,540
134,380
84,050
$549,950
Transcribed Image Text:An incomplete cost of goods manufactured schedule is presented below.
Complete the cost of goods manufactured schedule for Hobbit Company.
Work in process (1/1)
Direct materials
Raw materials inventory (1/1)
Add: Raw materials purchases
Total raw materials available for use
Less: Raw materials inventory
(12/31)
Direct materials used
Direct labor
Manufacturing overhead
HOBBIT COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended December 31, 2020
#
161,290
24,130
$187,540
$211,790
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