Reichman Manufacturing Company had the following account balances for the quarter ending September 30, unless otherwise noted:
Question:
Reichman Manufacturing Company had the following account balances for the quarter ending September 30, unless otherwise noted:
Amortization of manufacturing equipment $88,000
Amortization of office equipment 41,200
Direct manufacturing labour 175,000
Direct materials used 142,000
Finished goods inventory (July 1) 190,000
Finished goods inventory (September 30) 175,000
General office expenses 101,800
Indirect manufacturing labour 63,000
Indirect materials used 28,000
Marketing distribution costs 10,000
Miscellaneous plant overhead 45,000
Plant utilities 33,800
Property taxes on plant building 14,600
Property taxes on salespersons' company vehicles 4,000
Work-in-process inventory (July 1) 52,800
Work-in-process inventory (September 30) 57,000
Required:
Prepare a cost of goods manufactured schedule for the quarter.
Cornerstones of Managerial Accounting
ISBN: 978-0176530884
2nd Canadian edition
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman