Question

The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed:
Costs incurred:Direct labor cost.......... $70,000
Purchases of raw materials .......$118,000
Indirect labor........... $30,000
Maintenance, factory equipment..... $6,000
Advertising expense.......... $90,000
Insurance, factory equipment..... $8,000
Sales salaries............ $50,000
Rent, factory facilities......... $20,000
Supplies.............. $4,200
Depreciation, office equipment..... $3,000
 Depreciation, factory equipment...... $19,000
Beginning of the year End of the year
Inventories;
Raw materials........$7,000 $15,000
Work in proces........s$10,000 $5,000
Finished goods........$20,000 $35,000
Required:
1. Prepare a schedule of cost of goods manufactured in good form.
2. Prepare the cost of goods sold section of Mason Company


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  • CreatedMarch 15, 2011
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