Jones Corporation has the following cost records for May 2013 Indirect factory l
ID: 2587168 • Letter: J
Question
Jones Corporation has the following cost records for May 2013
Indirect factory labor
$ 7,000
Advertising Expense
$ 8,000
Direct materials used
12,000
Depreciation, factory equipment
3,200
Work in process, 5/1/13
6,000
Direct labor
13,000
Work in process, 5/31/13
7,800
Maintenance, factory equipment
1,000
Factory supervisor’s salary
4,500
Indirect materials
1,200
Sales Commission
10,000
Office Manager Salary
4,000
In preparing the Cost of Goods Manufactured Schedule, what is the:
Cost of Goods Manufactured
Indirect factory labor
$ 7,000
Advertising Expense
$ 8,000
Direct materials used
12,000
Depreciation, factory equipment
3,200
Work in process, 5/1/13
6,000
Direct labor
13,000
Work in process, 5/31/13
7,800
Maintenance, factory equipment
1,000
Factory supervisor’s salary
4,500
Indirect materials
1,200
Sales Commission
10,000
Office Manager Salary
4,000
In preparing the Cost of Goods Manufactured Schedule, what is the:
Cost of Goods Manufactured
Explanation / Answer
the following will be the cost of goods manufactured schedule:
note:sales commission , advertising expense, office manager salary are not considered in calculation of cost of goods manufactured, since they are not involved in production of goods.
Opening work in process (5/1/13) . .. $6,000 DIrect materials used 12,000 Direct labour 13,000 Manufacturing overhead Indirect factory labour $7,000 Factory supervisor salary 4,500 indirect materials 1,200 maintenance factory equipment 1,000 depreciation factory equipment 3,200 Total factory overhead 16,900 Total manufacturing cost $41,900 Total cost of work in process (6,000 + 41900) $47,900 less: work in process 5/31/14 (7,800) cost of goods manufactured $40,100Related Questions
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