The controller of Oriental Ceramics Inc. wishes to prepare a cost of goods sold budget for June.
Question:
Use the preceding information to prepare a cost of goods sold budget for June 2012.
Transcribed Image Text:
Direct materials: Total direct materials purchases budgeted for June Estimated inventory, June 1, 2012 Desired inventory, June 30, 2012 Total Porcelain Paint Enamel $6,940 2,800 2,310 $33,840 1,150 2,550 $174,980 8,570 10,860 $134,200 4,620 6,000 Direct labor cost: Total direct labor cost budgeted for June Decorating Department Kiln Department $44,700 Total $132,500 $177,200 Finished goods inventories: Figurine $2,470 Dish Bowl Total $5,240 $2,970 Estimated inventory, June 1, 2012 Desired inventory, June 30, 2012 $10,680 3,350 4,150 3,920 11,420 Work in process inventories: Estimated inventory, June 1, 2012 $3,200 Desired inventory, June 30, 2012 1,760 Budgeted factory overhead costs for June: Indirect factory wages $77,900 Depreciation of plant and equipment 12,600 Power and light 4,900 Indirect materials 3,700 Total $99,100
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Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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