Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories Materials Work in process Finished goods Direct labor Indirect labor Materials purchased during May Supplies Property taxes March 1 Machinery depreciation Miscellaneous costs $315,000 Heat, light, and power A. 214,200 Factory overhead incurred during May: B. 163,800 Required: March 31 $277,200 239,400 189,000 March 31 $567,000 604,800 60,480 36,000 12,600 10,080 8,820 16,380 Prepare a cost of goods manufactured statement for March 2016. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less" or "Plus" will automatically appear if it is required. Enter all amounts as positive numbers. Determine the cost of goods sold for March 2016.
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories Materials Work in process Finished goods Direct labor Indirect labor Materials purchased during May Supplies Property taxes March 1 Machinery depreciation Miscellaneous costs $315,000 Heat, light, and power A. 214,200 Factory overhead incurred during May: B. 163,800 Required: March 31 $277,200 239,400 189,000 March 31 $567,000 604,800 60,480 36,000 12,600 10,080 8,820 16,380 Prepare a cost of goods manufactured statement for March 2016. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less" or "Plus" will automatically appear if it is required. Enter all amounts as positive numbers. Determine the cost of goods sold for March 2016.
Chapter1: Financial Statements And Business Decisions
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The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows:
Inventories
Materials
Work in process
Finished goods
Direct labor
Indirect labor
Materials purchased during May
Supplies
Property taxes
March 1
Machinery depreciation
Miscellaneous costs
$315,000
Heat, light, and power
A.
214,200
Factory overhead incurred during May:
B.
163,800
Required:
March 31
$277,200
239,400
189,000
March 31
$567,000
604,800
60,480
36,000
12,600
10,080
8,820
16,380
Prepare a cost of goods manufactured statement for March 2016. Refer to the Amount Descriptions list
provided for the exact wording of the answer choices for text entries. "Less" or "Plus" will automatically appear
if it is required. Enter all amounts as positive numbers.
Determine the cost of goods sold for March 2016.
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