Exercise 1411 Incomplete manufacturing cost data for Horizon

Exercise 14-11 Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four difterent situations. Indicate the missing amount for each letter. Work in ProcesS Direct Used $118,900 Direct Used $145,300 Total Work in Materials Manufacturing Manufacturing Cost of Goods Costs 12/31 Manufactured $362,800 471,200 $91,100 534,800 451,400 269,100 289,800 205,300 137,100 45,200 82,900 103,600 63,400 85,200 74,800 77,200 47,900 272,900 Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2017 HORIZON COMPANY Cost of Goods Manufactured Schedule Click if you would like to Show Work for this question: Open Show Work

Solution

Direct Materials used Direct Labour used Manufacturing overhead Total manufacturing costs Work in Process 1/1 Work in Process 12/31 Cost of goods Manufactured 1 118900 145300 91100 355300 34800 27300 362800 2 109000 205300 137100 451400 65000 45200 471200 3 82900 103600 82600 269100 63400 85200 247300 4 74800 137800 77200 289800 47900 64800 272900 Horizon Company Cost of Goods Manufactured Schedule For the year emded December 31, 2017 Work in Process 1/1 34800 Direct Materials used 118900 Direct Labour used 145300 Manufacturing overhead 91100 Total manufacturing costs 355300 390100 Less: Work in Process 12/31 27300 Cost of goods Manufactured 362800