Question: I'm completely stuck Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods manufactured. Direct materials: __ Beginning raw materials inventory -_
I'm completely stuck




Income COGS COGM Statement Schedule Schedule Prepare a schedule of cost of goods manufactured. Direct materials: __ Beginning raw materials inventory -_ Add: Purchases of raw materials _ Total raw materials available _ Less: Ending raw materials inventory _ Raw materials used in production _ $ 286,000 _ _ _ _ _ Cost of goods manufactured _- Income COGS COGM Statement Schedule Schedule Prepare an income statement for the year. Sales 667,000 (667.com Cost of goods sold Selling and administrative expenses: Selling expenses $ 217,000 Administrative expenses 155,000 et operating income _ $ 314,000 Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 217,000 Purchases of raw materials $ 264,000 Direct labor ? Administrative expenses $ 155,000 Manufacturing overhead applied to work in process $ 366,000 Actual manufacturing overhead cost $ 350,000 Inventory balances at the beginning and end of the year were as follows: Beginning Of Year End of Year Raw materials $ 57,000 $ 35,000 Work in process ? $ 25,000 Finished goods $ 34,000 ? The total manufacturing costs for the year were $690,000; the cost of goods available for sale totaled $725,000; the unadjusted cost of goods sold totaled $667,000; and the net operating income was $35,000. The company's underapplied or overapplied overhead is Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)
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