1)Weisinger Corporation has provided the following data for the month of January
ID: 2386450 • Letter: 1
Question
1)Weisinger Corporation has provided the following data for the month of January:Inventories: Beginning Ending
Raw Materials-------------------- $28,000 $29,000
Work in process----------------- $16,000 $14,000
Finished goods------------------ $42,000 $54,000
Additional information:
Raw materials purchase---------------------------------------------------------- $56,000
Direct labor cost------------------------------------------------------------------- $87,000
Manufacturing overhead cost incurred------------------------------------- $51,000
Indirect materials included in manufacturing overhead cost incurred $3,000
Manufacturing overhead cost applied to Work in process------------ $55,000
Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in good form.
Explanation / Answer
Beginning material inventory
$28,000
Raw materials purchase
$56,000
Raw material for use
$84,000
ending material inventory
$29,000
production
$55,000
3000
52,000
Direct labor cost
87,000
55,000
Total cost
194,000
16,000
210,000
Ending worlk inventory
14,000
Cost og goods manufactured
196,000
cost of gods sold
Unabeginning –finished good inventoryd
42,000
add
196,000
sale
238,000
deduct
54,000
unadjusted cost of goods sold
184,000
- overhead
4,000
Adjusted cost of goods sold
180,000
Beginning material inventory
$28,000
Raw materials purchase
$56,000
Raw material for use
$84,000
ending material inventory
$29,000
production
$55,000
3000
52,000
Direct labor cost
87,000
55,000
Total cost
194,000
16,000
210,000
Ending worlk inventory
14,000
Cost og goods manufactured
196,000
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.