50.1K

Verified Solution

Link Copied!

Cost of Goods Sold, Cost of Goods Manufactured

Glenville Company has the following information for April:

Cost of direct materials used in production		$42,000
Direct labor		48,000
Factory overhead		27,000
Work in process inventory, April 1		36,000
Work in process inventory, April 30		29,000
Finished goods inventory, April 1		32,000
Finished goods inventory, April 30		20,000

a. For April, determine the cost of goods manufactured.

Using the data given, prepare a statement of Cost of Goods Manufactured.

Glenville Company
Statement of Cost of Goods Manufactured
		$fill in the blank c446d405b014fad_2
	$fill in the blank c446d405b014fad_4
	fill in the blank c446d405b014fad_6
	fill in the blank c446d405b014fad_8
Total manufacturing costs incurred in April		fill in the blank c446d405b014fad_9
Total manufacturing costs		$fill in the blank c446d405b014fad_10
		fill in the blank c446d405b014fad_12
Cost of goods manufactured		$fill in the blank c446d405b014fad_13

b. For April, determine the cost of goods sold.

Using the data given, prepare a statement of Cost of Goods Sold.

Glenville Company
Statement of Cost of Goods Sold
	$fill in the blank 6f7e2800f040fd5_2
	fill in the blank 6f7e2800f040fd5_4
	$fill in the blank 6f7e2800f040fd5_6
	fill in the blank 6f7e2800f040fd5_8
Cost of goods sold	$fill in the blank 6f7e2800f040fd5_9

Answer & Explanation Solved by verified expert

See Answer