2.57 - 2.57 (35 min) Schedule of cost of goods manufactured...

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2.57 (35 min) Schedule of cost of goods manufactured and sold; income statement a. F RESNO F ASHIONS C OMPANY S CHEDULE OF C OST OF G OODS M ANUFACTURED F OR THE Y EAR E NDED D ECEMBER 31, 20 X 2 Direct material: Raw-material inventory, January 1. ................. $ 40,000 Add: Purchases of raw material. ..................... 180,00 0 Raw material available for use. ...................... $220,0 00 Deduct: Raw-material inventory, December 31 25,000 Raw material used. ........................................ $195,0 00 Direct labor. ..................................................... 200,00 0 Manufacturing overhead: Indirect material. ........................................... $ 11,000 Indirect labor. ................................................ 16,000 Utilities: plant. ............................................... 40,000 Depreciation: plant and equipment. ............... 60,000 Other. ............................................................ 78,000
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2.57 - 2.57 (35 min) Schedule of cost of goods manufactured...

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