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Problem # 2 - Prepare a schedule of cost of goods manufactured for Gifford, Inc., as...

Problem # 2 - Prepare a schedule of cost of goods manufactured for Gifford, Inc., as of December 31, 2019 using the following information

Administrative salaries.....................................

$ 35,000

Depreciation of factory equipment..................

25,000

Depreciation of delivery vehicles ....................

6,000

Direct labor........................................................

68,000

Factory supplies used........................................

9,000

Factory insurance..............................................

15,500

Interest expense on factory equipment...........

12,000

Factory utilities .................................................

14,000

Factory maintenance........................................

7,500

Raw materials inventory, January 1, 2019.......

5,000

Raw materials inventory, December 31, 2019.

4,000

Raw material purchases ..................................

125,000

Rent on factory building...................................

25,000

Repairs of factory equipment...........................

11,500

Sales commissions.............................................

37,500

Goods in process inventory, January 1, 2019 .

3,500

Goods in process inventory, December 31, 2019 ............................................................................

2,700

Looking to fill out a Worksheet for Manufacturing Statement

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