View History Bookmarks Window Help Exercise 11-13A Cost of goods manufactured an
ID: 2514198 • Letter: V
Question
View History Bookmarks Window Help Exercise 11-13A Cost of goods manufactured and sold LO 11-3 The following information pertains to Rundle Manufacturing Company for March 2019. Assume actual overhead equaled applied overhead Mareh 1 Inventory balances Work in process rinished gooda $123,700 119,300 77,500 March 32 86,400 Raw sateriala Mork in process Pinished goods During March Costa of raw materials purchased cost§ of direet labor Costs of manufacturing overhead 80,400 $219,100 100.800 62,600 57,000 Required a. Prepare a schedule of cost of goods manufactured and sold b. Calculate the amount of gross margin on the income statement Complete this question by entering your answers in the tabs below. 8 MacBook Air ?? 2 3 4 0Explanation / Answer
Answer A
Answer B
Gross Margin on Inome Statement = Sales revenue - Cost of goods sold = $357,000 - $290,200 = $66,800
RUNDLE MNUFACTURING COMPANY Schedule of Cost of Goods Manudacture & Sold For March 2019 Details Amount ($) Beginning raw materials inventory 123,700 Raw materials purchase 119,100 Raw materials available for use 242,800 Less : Ending raw materials inventory (86,400) Direct raw materials used 156,400 Direct Labour 100,800 Manufacturing overhead 62,600 Total manufacturing costs 319,800 Beginning work in progress inventory 119,300 Total work in progress inventory 439,100 Less : Ending work in progress inventory (146,000) Cost of goods manufactured 293,100 Beginning finished goods inventory 77,500 Cost of goods available for sales 370,600 Less : Ending finished goods inventory (80,400) Cost of goods sold $290,200Related Questions
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