Jordan Company produces womens clothing. During 2010, the company incurred the following costs: Factory rent .............$425,000 Direct
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Jordan Company produces women’s clothing. During 2010, the company incurred the following costs:
Factory rent .............$425,000
Direct labor .............. 325,000
Utilities—Factory .......... 35,000
Purchases of direct materials ...... 625,000
Indirect materials ........... 70,000
Indirect labor ............ 80,000
Inventories for the year were as follows:
January 1 | December 31 | |
Direct Materials | $30,000 | $50,000 |
Work in process | $60,000 | $25,000 |
Finished goods | $115,000 | $95,000 |
Required
1. Prepare a statement of cost of goods manufactured.
2. Calculate cost of goodssold.
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Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
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