MFG Student Name => __________________ Section Number => __________________ - -

Question

MFG               Student Name   => __________________               Section Number => __________________ - - - - - A B C D E - - - - - 6 Data Section: 7 8 Depreciation--equipment $45,000 9 Direct labor 642,000 10 Direct materials inventory, 1/1 91,500 11 Direct materials inventory, 12/31 93,000 12 Factory rent 76,410 13 Finished goods, 1/1 132,000 14 Finished goods, 12/31 172,500 15 Indirect labor 37,500 16 Indirect materials 26,250 17 Purchases of direct materials 645,180 18 Work in process, 1/1 30,300 19 Work in process, 12/31 28,665 20 21 - - - - 22 Answer Section: 23 24                   Jackson Manufacturing 25        Schedule of Cost of Goods Manufactured and Sold 26             For the Year Ended December 31 27 - - - - 28 Direct materials 29 Direct materials inventory, 1/1 $91,500 30 Add: Purchases of Materials FORMULA1 31    ---------- 32 Cost of direct materials available $0 33 Less: Direct Material, 12/31 FORMULA2 34    ---------- 35 Cost of direct materials used FORMULA3 36 Direct labor 642,000 37 Manufacturing overhead: 38 Factory rent $76,410 39 Depreciation - Equipment FORMULA4 40 Indirect Labor FORMULA5 41 Indirect Material FORMULA6 0 42       -------    ---------- 43 Total manufacturing costs FORMULA7 44 Work in process, 1/1 30,300 45    ---------- 46 Total work in process available $0 47 Less: Work in Process, 12/31 FORMULA8 48    ---------- 49 Cost of goods manufactured FORMULA9 50 Finished Goods, 1/1 FORMULA10 51    ---------- 52 Cost of goods available for sale FORMULA11 53 Less: Finished goods, 12/31 172,500 54    ---------- 55 Cost of Goods Sold FORMULA12 56    ========== PLEASE HELP NEED IT DONE BY MIDNIGHT!!!!!! MFG               Student Name   => __________________               Section Number => __________________ - - - - - A B C D E - - - - - 6 Data Section: 7 8 Depreciation--equipment $45,000 9 Direct labor 642,000 10 Direct materials inventory, 1/1 91,500 11 Direct materials inventory, 12/31 93,000 12 Factory rent 76,410 13 Finished goods, 1/1 132,000 14 Finished goods, 12/31 172,500 15 Indirect labor 37,500 16 Indirect materials 26,250 17 Purchases of direct materials 645,180 18 Work in process, 1/1 30,300 19 Work in process, 12/31 28,665 20 21 - - - - 22 Answer Section: 23 24                   Jackson Manufacturing 25        Schedule of Cost of Goods Manufactured and Sold 26             For the Year Ended December 31 27 - - - - 28 Direct materials 29 Direct materials inventory, 1/1 $91,500 30 Add: Purchases of Materials FORMULA1 31    ---------- 32 Cost of direct materials available $0 33 Less: Direct Material, 12/31 FORMULA2 34    ---------- 35 Cost of direct materials used FORMULA3 36 Direct labor 642,000 37 Manufacturing overhead: 38 Factory rent $76,410 39 Depreciation - Equipment FORMULA4 40 Indirect Labor FORMULA5 41 Indirect Material FORMULA6 0 42       -------    ---------- 43 Total manufacturing costs FORMULA7 44 Work in process, 1/1 30,300 45    ---------- 46 Total work in process available $0 47 Less: Work in Process, 12/31 FORMULA8 48    ---------- 49 Cost of goods manufactured FORMULA9 50 Finished Goods, 1/1 FORMULA10 51    ---------- 52 Cost of goods available for sale FORMULA11 53 Less: Finished goods, 12/31 172,500 54    ---------- 55 Cost of Goods Sold FORMULA12 56    ========== PLEASE HELP NEED IT DONE BY MIDNIGHT!!!!!!

Explanation / Answer

24

                  Jackson Manufacturing

25

       Schedule of Cost of Goods Manufactured and Sold

26

            For the Year Ended December 31

27

-

-

-

-

28

Direct materials

29

Direct materials inventory, 1/1

$91,500

30

Add:

Purchases of Materials

645,180

31

32

Cost of direct materials available

$736,680

33

Less:

Direct Material, 12/31

    93,000

34

   ----------

35

Cost of direct materials used

643,680

36

Direct labor

642,000

37

Manufacturing overhead:

38

Factory rent

$76,410

39

Depreciation - Equipment

45,000

40

Indirect Labor

37,500

41

Indirect Material

26,250

185,160

42

      -------

   ----------

43

Total manufacturing costs

1,470,840

44

Work in process, 1/1

30,300

45

   ----------

46

Total work in process available

1,501,140

47

Less:

Work in Process, 12/31

    28,665

48

   ----------

49

Cost of goods manufactured

1,472,475

50

Finished Goods, 1/1

132,000

51

   ----------

52

Cost of goods available for sale

1,604,475

53

Less:

Finished goods, 12/31

172,500

54

   ----------

55

Cost of Goods Sold

1,431,975

56

   ==========

PLEASE HELP NEED IT DONE BY MIDNIGHT!!!!!!

24

                  Jackson Manufacturing

25

       Schedule of Cost of Goods Manufactured and Sold

26

            For the Year Ended December 31

27

-

-

-

-

28

Direct materials

29

Direct materials inventory, 1/1

$91,500

30

Add:

Purchases of Materials

645,180

31

32

Cost of direct materials available

$736,680

33

Less:

Direct Material, 12/31

    93,000

34

   ----------

35

Cost of direct materials used

643,680

36

Direct labor

642,000

37

Manufacturing overhead:

38

Factory rent

$76,410

39

Depreciation - Equipment

45,000

40

Indirect Labor

37,500

41

Indirect Material

26,250

185,160

42

      -------

   ----------

43

Total manufacturing costs

1,470,840

44

Work in process, 1/1

30,300

45

   ----------

46

Total work in process available

1,501,140

47

Less:

Work in Process, 12/31

    28,665

48

   ----------

49

Cost of goods manufactured

1,472,475

50

Finished Goods, 1/1

132,000

51

   ----------

52

Cost of goods available for sale

1,604,475

53

Less:

Finished goods, 12/31

172,500

54

   ----------

55

Cost of Goods Sold

1,431,975

56

   ==========

PLEASE HELP NEED IT DONE BY MIDNIGHT!!!!!!

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