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Account Balances Finished Goods Inventory, December 31$42,000Factory Supervisory Salaries12,000Income Tax Expense18,000Raw Materials Inventory, December 112,000Work In...

Account Balances

Finished Goods Inventory, December 31$42,000Factory Supervisory Salaries12,000Income Tax Expense18,000Raw Materials Inventory, December 112,000Work In Process Inventory, December 3115,000Sales Salaries Expense14,000Factory Depreciation Expense8,000Finished Goods Inventory, December 135,000Raw Materials Purchases105,000Work In Process Inventory, December 125,000Factory Utilities Expense6,000Direct Labor70,000Raw Materials Inventory, December 3119,000Sales Returns and Allowances5,000Indirect Labor21,000InstructionsPrepare a schedule of cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2019.

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Answer #1
Sampson Manufacturing Company
Schedule of cost of goods manufactured
For the month ended December 31, 2019.
Raw Material Inventory December 1       12,000
Add Raw Material Purchases    105,000
Total Raw Materail Available    117,000
Less Raw Materials Ending Inventory     (19,000)
Raw Material Used        98,000
Diirect Labour        70,000
Manufacturing Overheads
Factory Supervision Salary       12,000
Factory Dep Expense         8,000
Factory Utilites Expense         6,000
Indirect Labour       21,000        47,000
Total Manufacturing Cost      215,000
Work In Process Inventory, December 1        25,000
Less Work In Process Inventory, December 31      (15,000)
Cost of goods manufactured      225,000
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