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Statement of Goods Manufactured 1/1/2019       12/31/2019                Materials       $675,000       ...

Statement of Goods Manufactured

1/1/2019       12/31/2019

              

Materials       $675,000        $710,000

Work in Process       $312,000        $333,000

Finished Goods       $239,000        $127,000

              

Manufacturing Costs during 2019              

              

Materials purchased               $2,041,200

Direct labor              $988,000

Indirect labor               $462,000       

Depreciation on Equipment   $172,000       

Factory supplies & utilities $150,600       

              

Sales              $7,432,000

Selling Expenses               $416,000

Administrative Expenses              $1,065,000

Business   Accounting   
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Answer #1
Statement of Goods Manufactured
For the Year Ended December 31, 2019
Beginning raw materials $ 675000
Add: Raw material purchases 2041200
Raw materials available for use 2716200
Less: Ending raw materials 710000
Direct materials used 2006200
Direct labor 988000
Manufacturing overhead
Indirect labor 462000
Depreciation on equipment 172000
Factory supplies and utilities 150600 784600
Total current manufacturing costs 3778800
Add: Beginning work in process 312000
Total cost of work in process 4090800
Less: Ending work in process 333000
Cost of goods manufactured $ 3757800
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