Your first internship assignment is to prepare two schedules for Metlock Blue Co., a manufacturing company....

  

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Your first internship assignment is to prepare two schedules for Metlock Blue Co., a manufacturing company. You have a file that contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had it right. You also have access to the full set of financials for Metlock Blue, and you can dig further into any of the accounts via the accounting system, too. Here's the information you have pulled, with the same items as last year. Here's the information you have pulled, with the same items as last year. DM Inventory WIP Inventory FG Inventory DM purchases DL costs Production supervisor salary Utility costs in production space Depreciation on manufacturing facility and equipment Indirect materials Indirect labor Beginning of Year $8,500 21,000 6,300 End of year $10,000 13,000 8,700 153,000 209,000 60,000 13,000 43,000 8,100 14,000 Prepare a complete schedule of COGM and COGS for Metlock Blue for the current year, in good form. .. Schedule of COGM & COGS > < tA $ $ LA Your first internship assignment is to prepare two schedules for Metlock Blue Co., a manufacturing company. You have a file that contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had it right. You also have access to the full set of financials for Metlock Blue, and you can dig further into any of the accounts via the accounting system, too. Here's the information you have pulled, with the same items as last year. Here's the information you have pulled, with the same items as last year. DM Inventory WIP Inventory FG Inventory DM purchases DL costs Production supervisor salary Utility costs in production space Depreciation on manufacturing facility and equipment Indirect materials Indirect labor Beginning of Year $8,500 21,000 6,300 End of year $10,000 13,000 8,700 153,000 209,000 60,000 13,000 43,000 8,100 14,000 Prepare a complete schedule of COGM and COGS for Metlock Blue for the current year, in good form. .. Schedule of COGM & COGS > < tA $ $ LA

Answer rating: 100% (QA)

SOLUTION To prepare a schedule of Cost of Goods Manufactured COGM and Cost of Goods Sold COGS for Me... View the full answer