Problem 13-29 (Algo) Cost of goods manufactured and cost of goods sold LO 5,7 The following table summarizes the beginning and ending inventories of Decatur Manufacturing Inc. for the month of October: Sept. 30 Oct. 31 $36,400 $28,100 72,500 65,700 49,600 44,200 Raw materials Work in process Finished goods Raw materials purchased during the month of October totaled $126,900. Direct labor costs incurred totaled $313,100 for the month. Actual and applied manufacturing overhead costs for October totaled $190,500 and $194,200, respectively. Over/Underapplied overhead is written off to cost of goods sold at the end of the year in December. Required: a. Calculate the cost of goods manufactured for October. b. Calculate the cost of goods sold for October. Cost of goods manufactured a b Cost of goods sold

Problem 13-29 (Algo) Cost of goods manufactured and cost of goods sold LO 5,7 The following table summarizes the beginning and ending inventories of Decatur Manufacturing Inc. for the month of October: Sept. 30 Oct. 31 $36,400 $28,100 72,500 65,700 49,600 44,200 Raw materials Work in process Finished goods Raw materials purchased during the month of October totaled $126,900. Direct labor costs incurred totaled $313,100 for the month. Actual and applied manufacturing overhead costs for October totaled $190,500 and $194,200, respectively. Over/Underapplied overhead is written off to cost of goods sold at the end of the year in December. Required: a. Calculate the cost of goods manufactured for October. b. Calculate the cost of goods sold for October. Cost of goods manufactured a b Cost of goods sold

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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