Question

Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories	January 1		January 31
Materials	$186,500		$167,850
Work in process	124,960		112,460
Finished goods	95,120		112,460

Direct labor		$335,700
Materials purchased during January		358,080
Factory overhead incurred during January:
	Indirect labor	35,810
	Machinery depreciation	21,630
	Heat, light, and power	7,460
	Supplies	5,970
	Property taxes	5,220
	Miscellaneous costs	9,700

a. Prepare a cost of goods manufactured statement for January.

Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended January 31
			$fill in the blank 86116501b069fb3_2
Direct materials:
	$fill in the blank 86116501b069fb3_4
	fill in the blank 86116501b069fb3_6
	$fill in the blank 86116501b069fb3_8
	fill in the blank 86116501b069fb3_10
		$fill in the blank 86116501b069fb3_12
		fill in the blank 86116501b069fb3_14
Factory overhead:
	$fill in the blank 86116501b069fb3_16
	fill in the blank 86116501b069fb3_18
	fill in the blank 86116501b069fb3_20
	fill in the blank 86116501b069fb3_22
	fill in the blank 86116501b069fb3_24
	fill in the blank 86116501b069fb3_26
Total factory overhead		fill in the blank 86116501b069fb3_27
Total manufacturing costs incurred during January			fill in the blank 86116501b069fb3_28
Total manufacturing costs			$fill in the blank 86116501b069fb3_29
			fill in the blank 86116501b069fb3_31
Cost of goods manufactured			$fill in the blank 86116501b069fb3_32

b. Determine the cost of goods sold for January.
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Answer 1

(a)
Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the month ended January 31
Work In Progress Inventory, January 1			1,24,960
Direct materials:
Material Inventory, January 1	1,86,500
Purchases	3,58,080
Cost of materials available for use	5,44,580
Material Inventory, January 31	-1,67,850
Cost of direct materials used in Production		3,76,730
Direct Labor		3,35,700
Factory Overhead:
Indirect Labor	35,810
Machinery depreciation	21,630
Heat, Light and Power	7,460
Supplies	5,970
Property Taxes	5,220
Miscelleneous Costs	9,700
Total Factory Overhead		85,790
Total Manufacturing Cost Incurred during January			7,98,220
Total Manufacturing Costs			9,23,180
Less: Work In Progress Inventory, January 31			-1,12,460
Cost of Goods Manufatured			8,10,720
(b)
Sandusky Manufacturing Company Statement of Cost of Goods Sold For the month ended January 31
Finished goods Inventory, January 1	95,120
Add: Cost of Goods Manufatured	8,10,720
Cost of goods Available for Sale	9,05,840
Less: Finished goods Inventory, January 31	-1,12,460
Cost of Goods Sold	7,93,380