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Chapter 1 example - $ 78,000 Carter’s salary $100,000...

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Carter manufactures bicycles, jog strollers and tricycles; she had the following costs  associated w/ the production of tricycles for the month of March and would like for you  to tell her what YOU believe her cost of goods manufactured and cost of goods sold is.  She believes that COGM is $399,000, is she right?  Why not? Purchases of Raw Materials $250,000 Trike assembler wages $190,000 Utilities on the factory building $  45,000 Depreciation on the corporate office $  80,000 Trike supervisor salaries
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Unformatted text preview: $ 78,000 Carter’s salary $100,000 Beginning Raw Materials $ 12,000 Advertising in Parent’s Magazine $ 40,000 Mariah’s salary (her CFO) $ 8,000 Rags used in production $ 12,000 Beginning WIP $ 49,000 Ending RM $110,000 Ending WIP $ 23,000 Sales Salaries $110,000 Depreciation on factory equipment $ 20,000 Bathroom supplies for the factory $ 2,000 Trike packager wages $ 45,000 Beginning FG $ 19,000 Ending FG $ 6,000 Cost of Goods Manufactured/Sold Example...
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