Bledsoe Corporation has provided the following data for the month of November: Ending Beginning $ 25,600 $ 21,600 $ 17,600 $ 10,600 $ 48,600 $ 56,600 Inventories Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost. Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Direct materials: Total raw materials available for use Raw materials used in production Direct materials used in production BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Total manufacturing costs added to production: Total manufacturing costs to account for Cost of goods manufactured BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory 0 0 0 $ 72,600 $ 92,600 $ 42,660 $ 4,060 $ 41,600 $ 0 0 0

Bledsoe Corporation has provided the following data for the month of November: Ending Beginning $ 25,600 $ 21,600 $ 17,600 $ 10,600 $ 48,600 $ 56,600 Inventories Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost. Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Direct materials: Total raw materials available for use Raw materials used in production Direct materials used in production BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Total manufacturing costs added to production: Total manufacturing costs to account for Cost of goods manufactured BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory 0 0 0 $ 72,600 $ 92,600 $ 42,660 $ 4,060 $ 41,600 $ 0 0 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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