Beta Manufacturing Company produces a single product. The controller has asked for your help in preparing a
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Question:
Beta Manufacturing Company produces a single product. The controller has asked for your help in preparing a schedule of cost of goods manufactured for the month just ended. The following information is available:
Eleven thousand units were sold at $ per unit.
Thirteen thousand units requiring one unit each of raw materials were produced.
Raw materials inventory at the beginning of the month was units at $ each.
During the month, two purchases of raw materials were made:
Purchase #: units at $ each
Purchase #: units at $ each
The company uses the firstin firstout method of determining raw materials inventories.
The workinprocess inventories were:
Beginning of the month: units valued at $
End of the month: units valued at $
Direct labour cost was $
Overhead is applied to production on the basis of of direct labour cost.
Required:
Prepare a schedule of cost of goods manufactured for the month.
Beta Manufacturing Company
Schedule of Cost of Goods Manufactured
For the month Just Ended
Raw materials used:
Beginning raw materials inventory: Answer
units x $ $Answer
Purchases: Answer
units x $ Answer
units x $ $Answer
Total Raw materials available for use $Answer
Less: Ending raw materials inventory: Answer
units x $$Answer
Raw materials used in production $Answer
Direct labour $Answer
Manufacturing overhead applied to work
in process
$Answer
Total manufacturing costs $Answer
Add: Work in process, beginning $ Answer
Total Work in process $Answer
Less: Ending Work in process $Answer
Cost of goods manufactured $Answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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