Required

Prepare a Schedule of Cost of Goods Manufactured and Sold At December 31,2016 , the end of its fiscal year.

Transcribed Image Text:

At December 31,2016, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2016 Materials inventory, January 11 Materials inventory, December 31 $37,500 22.500 45,000 61.500 76,500 54,000 187,500 222,000 18,000 55,500 15,000 97,500 31,500 Selling expenses (total) 93,000 Non-factory administrative expenses (total) 87,000 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance At December 31,2016, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2016 Materials inventory, January 11 Materials inventory, December 31 $37,500 22.500 45,000 61.500 76,500 54,000 187,500 222,000 18,000 55,500 15,000 97,500 31,500 Selling expenses (total) 93,000 Non-factory administrative expenses (total) 87,000 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance

Answer rating: 100% (QA)

To prepare the Schedule of Cost of Goods Manufactured and Sold we need to calculate various costs in... View the full answer