Homework SourseQS 1411 Cost of goods manufactured LO P2 Prepare the 2017 sc
QS 14-11 Cost of goods manufactured LO P2 Prepare the 2017 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, Dec. 31, 2016 157,600 Work in process, Dec. 31, 2017 142,750 $190,500 63,150 24,000 Barton Company Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Total manufacturing costs Total cost of work in process
Solution
Solution:
| Barton Company | |
| Schedule of Cost of Goods Manufactured | |
| For the year ended december 31, 2017 | |
| Particulars | Amount |
| Direct Material | $190,500.00 |
| Direct Labor | $63,150.00 |
| Factory Overhead Cost | $24,000.00 |
| Total Manufacturing Cost | $277,650.00 |
| Add: Opening WIP | $157,600.00 |
| Total Cost of Work in Process | $435,250.00 |
| Less: Closing WIP | $142,750.00 |
| Cost of Goods Manufactured | $292,500.00 |
