Ryarder Company incurred the following costs last month: Purchases of raw materials. Direct labor...... Manufacturing overhead........

 

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Ryarder Company incurred the following costs last month: Purchases of raw materials. Direct labor...... Manufacturing overhead..... But: • Some of the goods sold this month were produced in previous months. . • $200,000 $270,000 $420,000 Some of the costs listed above were incurred to make goods that were not sold this month. Therefore: • Cost of goods sold does not equal the sum of the above costs. • We need to determine the values of the various inventories. Additional data for Ryarder Company: Raw materials inventory: Beginning raw materials inventory... Purchases of raw materials ...... Ending raw materials inventory..... Raw materials used in production.. Work in process inventory: Beginning work in process inventory... Total manufacturing costs........ Ending work in process inventory..... Cost of goods manufactured (i.e., finished)... Finished goods inventory: Beginning finished goods inventory.. Cost of goods manufactured (i.e., finished).. Ending finished goods inventory.... Cost of goods sold............... $10,000 $200,000 $30,000 ? $40,000 ? $60,000 ? $130,000 ? $80,000 ? Assignment - Compile a SCHEDULE OF COST OF GOODS MANUFACTURED based on the data provided above using MS Excel. Submit the file in the assignment -2 drop-box. It is a paired assignment, and all are encouraged to submit one copy containing the name and ID of the partners. But if anyone wants to complete the assignments individually can do that as well. Please look into the following rubric for better understanding about the requirement. Ryarder Company incurred the following costs last month: Purchases of raw materials. Direct labor...... Manufacturing overhead..... But: • Some of the goods sold this month were produced in previous months. . • $200,000 $270,000 $420,000 Some of the costs listed above were incurred to make goods that were not sold this month. Therefore: • Cost of goods sold does not equal the sum of the above costs. • We need to determine the values of the various inventories. Additional data for Ryarder Company: Raw materials inventory: Beginning raw materials inventory... Purchases of raw materials ...... Ending raw materials inventory..... Raw materials used in production.. Work in process inventory: Beginning work in process inventory... Total manufacturing costs........ Ending work in process inventory..... Cost of goods manufactured (i.e., finished)... Finished goods inventory: Beginning finished goods inventory.. Cost of goods manufactured (i.e., finished).. Ending finished goods inventory.... Cost of goods sold............... $10,000 $200,000 $30,000 ? $40,000 ? $60,000 ? $130,000 ? $80,000 ? Assignment - Compile a SCHEDULE OF COST OF GOODS MANUFACTURED based on the data provided above using MS Excel. Submit the file in the assignment -2 drop-box. It is a paired assignment, and all are encouraged to submit one copy containing the name and ID of the partners. But if anyone wants to complete the assignments individually can do that as well. Please look into the following rubric for better understanding about the requirement.

Answer rating: 100% (QA)

Schedule of Cost of Goods Manufactured Beginning Work in proc... View the full answer