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Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses...

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Accounting

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Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000 Inventory Raw materials Work in process Finished goods Beginning of Year $ 8,000 5,000 70,000 End of Year $10,000 20,000 25,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. ECCLES COMPANY Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials Total raw materials available Deduct: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs Add: Beginning work in process inventory Deduct: Ending work in process inventory Cost of goods manufactured

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