Exercise D4-6 Marigold Company produces small gasoline-powered engines for model

Question

Exercise D4-6 Marigold Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Marigold's CFO, has presented you with the following cost information Direct Materials Inventory, beginning $82,000 Direct Materials Inventory, ending $125,000 Work in Process Inventory, beginning $158,000 Work in Process Inventory, ending97,300 Direct labor Direct materials purchases Insurance, factory Depreciation, factory Depreciation, executive offices Indirect labor Utilities, factory Utilities, executive offices Property taxes, factory Property taxes, executive offices 14.400 $758,000 962,000 59,300 $ 22,900 $13,000 $206,000 s 15.300 $ 8,400 s 18,800 Using this cost information. prepare a cost of goods manufactured schedule for Mr. Clemens. Marigold Schedule of Cost of Goods Manufactured

Explanation / Answer

Schedule of cost of goods manufactured Direct materials used: Direct materials inventory, beginning 82000 Add: Direct material purchases 962000 Total materials available 1044000 Less:Direct materials inventory, Ending 125000 Direct materials used 919000 Direct labor 758000 Manufacturing overhead: Indirect labor 206000 Insurance, factory 59300 Depreciation, factory 22900 Utilities, factory 15300 Property taxes, factory 18800 Total Manufacturing overhead 322300 Total manufacturing costs 1999300 Add: Work in process inventory, beginning 158000 Less: Work in process inventory, ending 97300 Cost of goods manufactured 2060000

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