EX 113 Cost of goods manufactured for a manufacturing compan

EX 1-13 Cost of goods manufactured for a manufacturing company The following information is available for Ethtridge Manufacturing Company for the month ending January 31, 2016: OBJ.3 Cost of direct materials used in production Direct labor Work in process inventory, January 1 Work in process inventory, January 31 Total factory overhead 162,000 170,400 234,000 Determine Ethtridge\'s cost of goods manufactured for the month ended January 31, 2016. EX 1-14 Income statement for a manufacturing company Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. OBJ. 3 d. $198,800 Finished goods inventory, June 1 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, June 30 Cost of goods sold 61,600 s 46.200 484,800 5540,000 $260,400 72,800 61,600 2 $513,600 EX 1-15 Statement of cost of goods manufactured for a manufacturing company oBJ.3 Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, va. Total manufacturing costs 51,568,160 are as follows: ingcos3obare as follows: Inventories Materials Work in process Finished goods March 1 5315,000 214,200 163,800 March 31 5277,200 239,400 189,000 Direct labor Materials purchased during May Factory overhead incurred during May $567,000 604,800 Indirect labor Machinery depreciation Heat, light, and power 60,480 36,000 12,600 0,080 8.820 16380 Property taxes Miscellaneous costs a. Prepare a cost of goods manufactured statement for March 2016. b. Determine the cost of goods sold for March 2016. R 4/21r T 28 R 5/5/e

Solution

13)

14)a)cost of FG available for sale :Beginning FG + cost of goods manufactured

                          = 61600+329000=390600

b)cost of goods sold = Cost of FG available for sale -Ending FG

                         = 390600-72800 = 317800

c)cost of goods manufactured :260400-46200=214200

d)cost of goods sold : 260400-61600=198800

E)Beginning FG = 540000-484800=55200

F)Ending FG =540000-513600=26400

15)

Indirect labor

Direct material used	390000
Direct labor	336000
Factory overhead	234000
Total manufacturing cost		960000
Beginning WIP		162000
LEss:ending WIP		(170400)
Cost of goods manufactured		951600