Question

Cost of Goods Sold Budget

The controller of MingWare Ceramics Inc. wants to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget:

Direct materials:	Enamel		Paint		Porcelain		Total
Total direct materials purchases budgeted for September	$38,730		$8,130		$151,050		$197,910
Estimated inventory, September 1	2,250		5,400		9,000		16,650
Desired inventory, September 30	2,890		2,630		6,940		12,460
Direct labor cost:	Kiln Department		Decorating Department				Total
Total direct labor cost budgeted for September	$45,120		$130,850				$175,970
Finished goods inventories:	Dish		Bowl		Figurine		Total
Estimated inventory, September 1	$6,070		$3,460		$2,850		$12,380
Desired inventory, September 30	3,880		4,800		4,550		13,230
Work in process inventories:
Estimated inventory, September 1	$3,700
Desired inventory, September 30	2,060
Budgeted factory overhead costs for September:
Indirect factory wages	$76,900
Depreciation of plant and equipment	12,010
Power and light	4,770
Indirect materials	3,290
Total	96,970

Use the preceding information to prepare a cost of goods sold budget for September.

MingWare Ceramics Inc.
Cost of Goods Sold Budget
For the Month Ending September 30
			$
		$
Direct materials:
	$
	$
	$
Direct labor
		$
Less work in process inventory, September 30
			$
			$

Answer 1

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