From the account balances listed below, prepare a schedule of cost of goods manufactured for...
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Accounting
From the account balances listed below, prepare a schedule of cost of goods manufactured for Best Manufacturing Ltd for the month ended 31 December 2019.
Item
Account Balances
Finished Goods Inventory, 31 December $52,000
Factory Supervisory Salaries 11000
Income Tax Expense 17,000
Raw Materials Inventory, 1 December 15,000
Work In Process Inventory, 31 December 35,000
Sales Salaries Expense 14,000
Factory Depreciation Expense 5,000
Finished Goods Inventory, 1 December 35,000
Raw Materials Purchases 60,000
Work In Process Inventory, 1 December 40,000
Factory Electricity and Power Expense 4,000
Direct Labour 70,000
Raw Materials Inventory, 31 December 19,000
Sales Returns and Allowances 5,000
Indirect Labour 21,000
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