Prepare a cost of goods sold budget for the Highlands Manufacturing Co. for the year ended December

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Prepare a cost of goods sold budget for the Highlands Manufacturing Co. for the year ended December 31, 2013, from the following estimates.

Inventories of production units:


Prepare a cost of goods sold budget for the Highlands


Direct materials purchased during the year, $854,000; beginning inventory of direct materials, $31,000; and ending inventory of direct materials, $26,000. Totals from other budgets included:
Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $539,500
Total factory overhead costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 818,000

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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Principles of Cost Accounting

ISBN: 978-1133187868

16th edition

Authors: Edward J. Vanderbeck

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