70.2K

Verified Solution

Link Copied!

[The following information applies to the questions displayed below] Note: Assume all raw materials were used as direct materials. Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Raw materials purchased Direct labor Factory overhead Beginning of Year End of Year $7,000 $9,500 14,0 10,500 10,000 6,500 $ 125,500 95,000 42,000 QS 1-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $42,000 consists of Indirect labor of $21,000, Depreciation expense-Factory of $16,000, and Factory $5,000 a. Compute total manufacturing costs. b. Prepare a schedule of cost of goods manufactured. Complete this question by entering your answers in the tabs below. Required A Required B Compute total manufacturing costs. Total manufacturing costs $ 0 Required B > Inventories Raw materials inventory Work in process inventory Finished goods inventory $7,000 $9,500 14,000 10,000 10,500 6,500 Activity during current year Raw materials purchased Direct labor Factory overhead $ 125,500 95,000 42,000 QS 1-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $42.000 consists of Indirect labor of $21,000, Depreciation expense-Factory of $16,000. $5,000. a. Compute total manufacturing costs. b. Prepare a schedule of cost of goods manufactured. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of cost of goods manufactured. Direct materials Schedule of Cost of Goods Manufactured Raw materials available for use Factory overhead Total factory overhead $ 0 Cost of goods manufactured S 0

Answer & Explanation Solved by verified expert

See Answer