The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for September $35,610 $7,480 $138,880 $181,970 Estimated inventory, September 1 2,150 5,160 8,600 15,910 Desired inventory, September 30 3,370 3,070 8,090 14,530 Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for September $53,350 $154,720 $208.070 Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, September 1 $5,750 $3,280 $2,700 $11,730 Desired inventory, September 30 3,680 4,540 4,310 12,530 Work in process inventories: Estimated inventory, September 1 $3,510 Desired inventory, September 30 1,960 Budgeted factory overhead costs for September: Indirect factory wages $77,400 Depreciation of plant and equipment 14,510 Power and light 4,990 Indirect materials 3,350 Total 100,250 Use the preceding information to prepare a cost of gods sold budget for September. For those boxes in which vou must enter subtracted or negative numbers use a minus sign.

The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for September $35,610 $7,480 $138,880 $181,970 Estimated inventory, September 1 2,150 5,160 8,600 15,910 Desired inventory, September 30 3,370 3,070 8,090 14,530 Direct labor cost: Kiln Department Decorating Department Total Total direct labor cost budgeted for September $53,350 $154,720 $208.070 Finished goods inventories: Dish Bowl Figurine Total Estimated inventory, September 1 $5,750 $3,280 $2,700 $11,730 Desired inventory, September 30 3,680 4,540 4,310 12,530 Work in process inventories: Estimated inventory, September 1 $3,510 Desired inventory, September 30 1,960 Budgeted factory overhead costs for September: Indirect factory wages $77,400 Depreciation of plant and equipment 14,510 Power and light 4,990 Indirect materials 3,350 Total 100,250 Use the preceding information to prepare a cost of gods sold budget for September. For those boxes in which vou must enter subtracted or negative numbers use a minus sign.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 16E

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