Question

Exercise 2-31 Prepare Statements for a Manufacturing Company (L.O. 2, 4) The following balances are from the accounts of Secol Machining Company: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 98,100 $ 108,700 Work-in-process inventory 109,400 107,500 Finished goods inventory 44,100 44,700 Direct materials purchased during the year amount to $512,600, and the cost of goods sold for the year was $1,885,000. Required: Prepare a cost of goods sold statement. (Input all amounts as positive values. Omit the "$" sign in your response.) Secol Machining Company Cost of Goods Sold Statement For the Year Ended December 31 $ Manufacturing costs: Direct materials: $ $ Total manufacturing costs Total costs of work in process $ $ $ $ how do I find the other manufacturing costs???

Answer 1

Prepare a cost of goods sold statement.

Beginning work in process			109400
Beginning raw material inventory	98100
direct mateiral purchase	512600
Less: Ending raw material inventory	(108700)	502000
Other manufacturing cost		1381700
Total manufacturing cost			1883700
Total cost of work in process			1993100
Less: ENding work in process			(107500)
Cost of goods manufactured			1885600
Beginning finished goods inventory			44100
Cost of goods manufactured			1885600
cost of goods available for sale			1929700
Less: Ending finished goods inventory			(44700)
Cost of goods sold			1885000

Manufacturing cost

direct material = 502000

total manufacturing cost = 1883700

total cost of work in process = 1993100

Other manufacturing cost = 1381700