Inventories Materials January 1 January 31 302,000 278,000 Work in process 215,600 238,200 Finished goods 163,000 187,100 Direct labor Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs January 31 569,000 608,600 60,680 36,000 12,400 8,160 8,060 16,400 Prepare a cost of goods manufactured statement for January and determine the cost of goods sold:

Inventories Materials January 1 January 31 302,000 278,000 Work in process 215,600 238,200 Finished goods 163,000 187,100 Direct labor Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs January 31 569,000 608,600 60,680 36,000 12,400 8,160 8,060 16,400 Prepare a cost of goods manufactured statement for January and determine the cost of goods sold:

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 5E: Recording materials transactions Prepare a journal entry to record each of the following materials...

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Question 1Part IAdvent Corporationhas provided the following data for its activities for the month of May.Beginning Raw Materials Inventory$75,000Ending Raw Materials Inventory$45,000Purchases of Raw Materials$550,000Direct Labour Incurred$120,000Manufacturing Overheads Incurred$250,000Beginning Work in Process$60,000Ending Work in Process$140,000Required: Prepare a schedule of the Cost of Goods Manufactured for the month of May.
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m Exam Compute the Work-in-Process transferred to the finished goods warehouse on April 30 using the following information: $305 280 Work-In-Process Inventory, April 30 Direct material purchased during April Work-In-Process Inventory, April 1 Direct labor costs incurred 330 2857 430 Manufacturing overhead costs Direct materials used in production 380 255 Multiple Choice $1,140. $1,065. $1,090. Prev 1 of 50 Next >
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