Exercise 5-10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO6] The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventory Raw materials Work in process Finished goods Direct materials Beginning of Year Total manufacturing costs Raw materials used in production Cost of goods manufactured $ 8,000 5,000 70,000 Required: 1. Prepare a schedule of cost of goods manufactured, Assume all raw materials used in production were direct materials End of Year $10,000 20,000 25,000 ECCLES COMPANY Schedule of Cost of Goods Manufactured $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000

Exercise 5-10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO6] The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventory Raw materials Work in process Finished goods Direct materials Beginning of Year Total manufacturing costs Raw materials used in production Cost of goods manufactured $ 8,000 5,000 70,000 Required: 1. Prepare a schedule of cost of goods manufactured, Assume all raw materials used in production were direct materials End of Year $10,000 20,000 25,000 ECCLES COMPANY Schedule of Cost of Goods Manufactured $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 14.1.2P: Budget performance report for a cost center Sneed Industries Company sells vehicle parts to...

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