Question

account balances for the year ended December 31:

Selling and administrative salaries $ 106,000 Insurance, factory 7,200 Utilities, factory 51,500 Purchases of raw materials ? Indirect labour 62,000 Direct labour 101,800 Advertising expense 76,500 Cleaning supplies, factory 7,500 Sales commissions 40,500 Rent, factory building 120,000 Maintenance, factory 30,000 Inventory balances at the beginning and end of the year were as follows: Beginning of the Year End of the Year Raw materials $ 60,800 $ 8,300 Work in process ? 32,800 Finished goods 45,000 92,000 The total manufacturing costs for the year were $708,000, and the cost of goods sold totalled $665,000.

QUESTION: Prepare a schedule of cost of goods manufactured.

Answer 1