Question

Cost of Goods Sold Budget The controller of MingWare Ceramics Inc. wishes to prepare a cost...

Cost of Goods Sold Budget

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 $41,130 $8,640 $160,410 $210,180
Estimated inventory, September 1 2,700 6,480 10,800 19,980
Desired inventory, September 30 2,830 2,580 6,790 12,200
Direct labor cost: Kiln Department Decorating Department Total
Total direct labor cost budgeted for September $54,560 $158,220 $212,780
Finished goods inventories:      Dish      Bowl      Figurine      Total
Estimated inventory, September 1 $5,870 $3,350 $2,760 $11,980
Desired inventory, September 30 3,760 4,640 4,400 12,800
Work in process inventories:
Estimated inventory, September 1 $3,580
Desired inventory, September 30 2,000
Budgeted factory overhead costs for September:
Indirect factory wages $77,900
Depreciation of plant and equipment 14,130
Power and light 4,940
Indirect materials 3,180
Total 100,150

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
$
$

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