Requirements: (1) Please add any two period costs and two manufacturing overhead costs that were covered...

 

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Requirements: (1) Please add any two period costs and two manufacturing overhead costs that were covered in the lectures or slides to the above table. You can define your own amount. (If the items are not covered in the lectures or slides, you cannot get the points.) (2) After adding items based on (1), compute the cost of goods manufactured and the cost of goods sold for the company for the year. (Don't draw tables. Please use equations and formulas. For example, COGM Beg WIP inventory +......- End WIP inventory.) Raw materials inventory $50,000 Depreciation - plant - beg. of year & equipment Raw materials inventory - end of year Work in process inv. - beg. of year Work in process inv. - end of year Finished goods inv. - beg. of year Finished goods inv. - end of year Purchase of direct materials 56,000 Repairs and 100,000 36,000 maintenance - plant 70,000 General and 50,000 Insurance on plant administration exp. Indirect labour Direct labour 30,000 Marketing expenses $26,000 8,000 18,000 25,000 30,000 164,000 40,000 Requirements: (1) Please add any two period costs and two manufacturing overhead costs that were covered in the lectures or slides to the above table. You can define your own amount. (If the items are not covered in the lectures or slides, you cannot get the points.) (2) After adding items based on (1), compute the cost of goods manufactured and the cost of goods sold for the company for the year. (Don't draw tables. Please use equations and formulas. For example, COGM Beg WIP inventory +......- End WIP inventory.) Raw materials inventory $50,000 Depreciation - plant - beg. of year & equipment Raw materials inventory - end of year Work in process inv. - beg. of year Work in process inv. - end of year Finished goods inv. - beg. of year Finished goods inv. - end of year Purchase of direct materials 56,000 Repairs and 100,000 36,000 maintenance - plant 70,000 General and 50,000 Insurance on plant administration exp. Indirect labour Direct labour 30,000 Marketing expenses $26,000 8,000 18,000 25,000 30,000 164,000 40,000

Answer rating: 100% (QA)

To address the requirements lets first add two period costs and two manufacturing overhead costs to the table provided Since I dont have access to the ... View the full answer