Exercise 1914 The following information is available for Aik

Exercise 19-14 The following information is available for Aikman Company January 1, 2017 $26,060 17,570 27,830 2017 December 31, 2017 $31,290 20,730 25,510 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $152,260 223,710 181,550 901,720

Solution

Cost of goods manufactured schedule :

Income statement :

Partial balance sheet :

Beginning work in process			17570
Beginning raw material inventory	26060
Raw material purchase	152260
	178320
Less: Ending raw material inventory	(31290)
Direct material consumed		147030
Direct labour		223710
Manufacturing overhead		181550
Total manufacturing cost			552290
Total work in process			569860
Less: Ending work in process			(20730)
Cost of goods manufactured			549130