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The following selected account balances are provided for Delray Mfg. Sales $ 1,193,000 Raw materials inventory,...

The following selected account balances are provided for Delray Mfg.

Sales $ 1,193,000
Raw materials inventory, beginning 45,000
Work in process inventory, beginning 51,700
Finished goods inventory, beginning 68,700
Raw materials purchases 160,000
Direct labor 241,000
Factory supplies used (indirect materials) 19,100
Indirect labor 40,000
Repairs—Factory equipment 5,250
Rent cost of factory building 57,000
Advertising expense 109,000
General and administrative expenses 126,000
Raw materials inventory, ending 42,900
Work in process inventory, ending 38,200
Finished goods inventory, ending 69,000

Prepare its schedule of cost of goods manufactured for the current year ended December 31.

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Answer #1
schedule of cost of goods manufactured
direct material:- amount($)
raw material inventory at beginning 45000
add:-rawmaterial purchases 160000
less:-rawmaterial inventory at end 42900
rawmaterial used in production 162100
direct labour 241000
factory overhead:- 121350
factory supplies used 19100
indirect labour 40000
repairs-factory equipment 5250
rent cost of factory building 57000
total manufacturing costs 524450
add:-beginning work in progress inventory 51700
less:-working progress inventory at end 38200
cost of goods manufactured for the year 537950
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