201-R(2)-2-43,45,46-Solutions-S'11 (1)

201-R(2)-2-43,45,46-Solutions-S'11 (1) - 1...

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Unformatted text preview: 1 "#$%& () * +,-./# ()) 012.%3%.4/ 5-4671$8 * 09:; <=>? <=@? <=A "#$% "#$& "#$ ()*+,-.+ /01 23456 234(6 7( 89..9:; 9: <9==9:; ><0-:?= 9: 23456 234(6 7( 89:>:)9>. =?>?+<+:? +.+<+:?=@ )0=? A+*>B901 PROBLEM 2-43 (35 MINUTES) 1. LAREDO LUGGAGE COMPANY SCHEDULE OF COST OF GOODS MANUFACTURED FOR THE YEAR ENDED DECEMBER 31, 20X2 Direct material: Raw-material inventory, January 1............................................ $ 20,000 Add: Purchases of raw material ................................................ 90,000 Raw material available for use................................................... $110,000 Deduct: Raw-material inventory, December 31........................ 12,500 Raw material used ...................................................................... $97,500 Direct labor...................................................................................... 100,000 Manufacturing overhead: Indirect material .......................................................................... $ 5,000 Indirect labor ............................................................................... 7,500 Utilities: plant .............................................................................. 20,000 Depreciation: plant and equipment........................................... 30,000 Other ............................................................................................ 40,000 Total manufacturing overhead .................................................. 102,500 Total manufacturing costs............................................................. $300,000 Add: Work-in-process inventory, January 1 ................................ 20,000 Subtotal ........................................................................................... $320,000 Deduct: Work-in-process inventory, December 31...................... Deduct: Work-in-process inventory, December 31....
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201-R(2)-2-43,45,46-Solutions-S'11 (1) - 1...

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