ttpsedugenwileypluscomedugenstudentmainfruni Weygandt Manage

ttps//edugen.wileyplus.com/edugen/student/mainfr.uni Weygandt, Managerial Accounting, 7e actice A Gradebook ORION Downloadable cTextbook nment Problem 1-4A (Part Level Submission) The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017. $5,200 16,800 29,700 9,550 Raw Materials Inventory 7/1/16 Raw Materials Inventory 6/30/17 $51,100 41,600 96,800 27,800 21,300 27,900 144,350 26,360 34,600 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager\'s Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash Finished Goods Inventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor 563,900 4,600 64,300 9,610 2,500 Accounts Recelvable 97,200 37,900 (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) Cost of Goods ere to search

Solution

Prepare cost of goods manufactured schedule :

Beginning work in process			21300
Direct material used
Beginning raw material inventory	51100
Raw material purchase	97200
Raw material available for use	148300
Less; Ending raw material inventory	(41600)
Direct material used		106700
Direct labour		144350
Factory overhead
Indirect labour	26360
Factory insurance	5200
Factory repairs	2500
Factory property taxes	9610
Factory machine dep	16800
Factory utilities	29700
Plant manager\'s salary	64300
Total factory overhead		154470
Total manufacturing cost			405520
Total cost of work in process			426820
Less: Ending work in process			(27900)
Cost of goods manufactured			398920