The following costs and inventory data were taken from the accounts of Bodhisatva Corporation at...
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Accounting
The following costs and inventory data were taken from the accounts of Bodhisatva Corporation at December 31, 2018
January 1, 2018 December 31, 2018
Inventories:
Raw materials $15,500 $11,000
Work in process 22,000 31,000
Finished Goods 8,500 12,500
Costs incurred:
Raw materials purchases $72,000
Direct Labor 42,000
Property Taxes - Factory 24,000
Office rent 8,000
Factory utilities 4,000
Indirect materials 7,000
Indirect labor 5,000
Prepare a schedule of cost of goods manufactured for the year ended December 31, 2018.
Prepare a schedule of cost of goods sold for the year ended December 31, 2018.
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