I am posting this again because the last guy didnt get it. ALL MY LABELS FOR THE

Question

I am posting this again because the last guy didnt get it. ALL MY LABELS FOR THE DATA ARE COORECT FOR SCHEDULE OF GOODS MANUFACTURED. I JUST NEED THE NUMERICAL VALUES FOR THE DATA.

Required information [The following information applies to the questions displayed below. The following information applies to Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead s 275,000 120,000 252,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $ 30,000 39,000 42,000 Each of these inventory balances was 10 percent higher at the end of the year.

Explanation / Answer

Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, Jan 1 30000 Add: Purchases of raw materials 278000 Raw materials available for use 308000 Less: Raw materials inventory, Dec 31 33000 Raw materials used 275000 Direct labor 120000 Manufacturing overhead 252000 Total manufacturing costs 647000 Add: Work in process inventory Jan 1 39000 Subtotal 686000 Less: Work in process inventory Dec 31 42900 Cost of goods manufactured 643100

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