Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 26,800 $ 22,800 Work in process $ 18,800 $ 11,800 Finished Goods $ 49,800 $ 57,800 Additional...

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Accounting

Bledsoe Corporation has provided the following data for themonth of November:
Beginning Ending
Raw materials $ 26,800 $ 22,800
Work in process $ 18,800 $ 11,800
Finished Goods $ 49,800 $ 57,800
Additional information:
Raw materials purchases $ 73,800
Direct labor cost $ 93,800
Manufacturing overhead cost incurred $ 43,980
Indirect materials included in manufacturing overhead costincurred $ 4,180
Manufacturing overhead cost applied to Work in Process $ 42,800
Any underapplied or overapplied manufacturing overhead is closedout to cost of goods sold.
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Scheduleof Cost of Goods Sold.

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SOLUTION Schedule of Cost of Goods Manufactured Particulars Amount Amount Amount Direct Materials Beginning Inventory of Direct Material 26800 Add Purchases 73800 Inventory available for use 100600 Less See Answer

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	Beginning		Ending
Raw materials	$	26,800	$	22,800
Work in process	$	18,800	$	11,800
Finished Goods	$	49,800	$	57,800


Raw materials purchases	$	73,800
Direct labor cost	$	93,800
Manufacturing overhead cost incurred	$	43,980
Indirect materials included in manufacturing overhead costincurred	$	4,180
Manufacturing overhead cost applied to Work in Process	$	42,800