Use the working papers from Application Problem 20-2 to complete this problem.

Instructions:

Prepare a statement of cost of goods manufactured for Cramer Corporation. The statement is for the month ended March 31 of the current year.

Data from Application Problem 20-2

The following information is taken from the records of Cramer Corporation on March 31 of the current year.

The accounts and balances needed to complete this problem are provided in the Working Papers.

The total factory payroll for the month from the payroll register is \($122,530.00,\) distributed as follows:

The total of all requisitions of direct materials issued during the month is \($139,419.80.\) The total of all requisitions of indirect materials issued during the month is \($4,505.00.\) 

The factory overhead to be charged to Work in Process is 68% of the direct labor cost.

The total of all cost sheets completed during the month is \($294,313.50.\) 

The total of costs recorded on all sales invoices for March is \($395,800.00.\) 

Transcribed Image Text:

Work in Process Factory Overhead Cash $102,570.00 19,960.00 99,249.10 Employee Income Tax Payable Social Security Tax Payable Medicare Tax Payable $13,478.50 7,964.45 1,837.95