Knight Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2014. Requirements
Question:
Knight Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2014.
Requirements
1. Use the information to prepare a schedule of cost of goods manufactured.
2. What is the unit product cost if Knight manufactured 2,160 lamps for theyear?
Transcribed Image Text:
Inventories: Raw Materials Work-in-Process Finished Goods Other information: Beginning 56,000 103,000 41,000 Ending 23,000 63,000 48,000 Depreciation, plant building and equipment Raw materials purchases Insurance on plant ales salaries Repairs and maintenance plant Indirect labor Direct labor Administrative expenses $16,000 159,000 22,000 46,000 8,000 32,000 122,000 59,000
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