Question

Rocket Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Rocket’s CFO, has presented you with the following cost information:
Direct Materials Inventory, beginning.... $ 80,000
Direct Materials Inventory, ending ..... $122,000
Work in Process Inventory, beginning.... $140,000
Work in Process Inventory, ending ..... $ 95,000
Direct labor............... $780,000
Direct materials purchases......... $940,000
Insurance, factory ............ $ 50,000
Depreciation, factory .......... $ 22,000
Depreciation, executive offices ...... $ 15,000
Indirect labor.............. $220,000
Utilities, factory ............. $ 17,000
Utilities, executive offices ......... $ 8,000
Property taxes, factory .......... $ 18,000
Property taxes, executive offices ...... $ 14,000

Required
Using this cost information, prepare a cost of goods manufactured schedule for Mr. Clemens.



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  • CreatedFebruary 21, 2014
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