Question

The controller of MingWare Ceramics Inc. wishes 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	$30,600		$6,430		$119,340		$156,370
Estimated inventory, September 1	1,850		4,440		7,400		13,690
Desired inventory, September 30	2,810		2,560		6,740		12,110
Direct labor cost:	Kiln Department		Decorating Department				Total
Total direct labor cost budgeted for September	$43,360		$125,740				$169,100
Finished goods inventories:	Dish		Bowl		Figurine		Total
Estimated inventory, September 1	$5,400		$3,080		$2,540		$11,020
Desired inventory, September 30	3,460		4,270		4,050		11,780
Work in process inventories:
Estimated inventory, September 1	$3,290
Desired inventory, September 30	1,840
Budgeted factory overhead costs for September:
Indirect factory wages	$77,100
Depreciation of plant and equipment	11,380
Power and light	4,800
Indirect materials	3,310
Total	96,590

Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

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

Answer 1

	MingWare Ceramics Inc.
	Cost of Goods Sold Budget
	For the Month Ending September 30
Finished goods inventory,September 1			11020
Work in process inventory, September 1		3290
Direct materials:
Direct materials, September 1	13690
Direct materials purchases	156370
Cost of direct materials available for use	170060
Direct materials inventory,September 30	-12110
Cost of direct materials placed in production	157950
Direct labor	169100
Factory overhead	96590
Total manufacturing costs		423640
Total work in process during the period		426930
Work in process inventory, September 30		-1840
Cost of goods manufactured			425090
Cost of finished goods available for sale			436110
Finished goods inventory, September 30			-11780
Cost of goods sold			424330