The following data from the just completed year
by | Mar 18, 2020 | Uncategorized
|
The following data from the just completed year are taken from the accounting records of Mason Company:
|
| |
|
|
| Sales |
$ |
656,000 |
| Direct labor cost |
$ |
86,000 |
| Raw material purchases |
$ |
136,000 |
| Selling expenses |
$ |
109,000 |
| Administrative expenses |
$ |
49,000 |
| Manufacturing overhead applied to work in process |
$ |
202,000 |
| Actual manufacturing overhead costs |
$ |
226,000 |
|
|
| Inventories |
Beginning
of Year |
End of
Year |
| Raw materials |
$ |
8,900 |
$ |
10,900 |
| Work in process |
$ |
6,000 |
$ |
20,100 |
| Finished goods |
$ |
76,000 |
$ |
25,900 |
|
|
| 1. |
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
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