From the account balances listed below, prepare a schedule of cost of goods manu
ID: 2487937 • Letter: F
Question
From the account balances listed below, prepare a schedule of cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2013.
From the account balances listed below, prepare a schedule of cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2013 Finished Goods Inventory, December 31 Factory Supervisory Salaries Income Tax Expense Raw Materials Inventory, December 1 Work In Process Inventory, December 31 Sales Saaries Expense Factory Depreciation Expense Finished Goods Inventory, December 1 Raw Materials Purchases Work In Process Inventory, December 1 Factory Utilities Expense Direct Labor Raw Materials Inventory, December 31 Sales Returns and Allowances Indirect Labor Account Balances $42,000 12,000 18,000 12,000 15,000 14,000 8,000 35,000 95,000 20,000 6,000 70,000 19,000 5,000 21,000Explanation / Answer
Sampson Manufacturing company cost of goods maufactured Schedule Work in process , december 1 20,000 direct materials Raw materials inventory dec 1 12,000 Purchases 95,000 total avaiable 107,000 less :ending inventory dec 31 -19,000 aw materials used 88,000 Direct labor 70,000 manufacturing overhead Factory supervision salary 12,000 Factory depreciation expense 8,000 Factory utilities expense 6,000 indirect labor 21,000 total manufactuirng ovehead 47,000 toal 205,000 total manufacturing cost 225,000 less ;Work in process Dec 31 -15,000 Cost of goods manufactured 210,000
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