Fall 2011 HW2

Fall 2011 HW2 - Rent $425,000 Indirect Materials $70,000...

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1. direct 2. indirect 3. direct 4. indirect 5. direct 6. indirect 7. indirect 8. direct 9. indirect 10. indirect
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Department 1 mixed Department 2 mixed Department 3 fixed Department 4 variable Department 5 variable
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Solution (30 min) 1. Prepare a statement of cost of goods manufactured. Jordan Company Statement of Cost of Goods Manufactured for the Year Ended December 31, 2010 Direct Materials Direct Materials Inventory, 1/1/2010 $30,000 Direct Materials Purchases $625,000 Total Direct Materials Available $655,000 Direct Materials Inventory, 12/31/2010 $50,000 Direct Materials Used $605,000 Direct Labor-Wages $325,000 Factory Overhead Utilities $35,000
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Unformatted text preview: Rent $425,000 Indirect Materials $70,000 Indirect Labor $80,000 Total Factory Overhead $610,000 Total Manufacturing Costs $1,540,000 Work-in-Process Inventory, 1/1/2004 $60,000 Total Manufacturing Costs to Account for $1,600,000 Work-in-Process Inventory, 12/31/2004 $25,000 Cost of Goods Manufactured $1,575,000 2. Calculate cost of goods sold. Beginning finished goods inventory $115,000 Cost of goods manufactured $1,575,000 Less: Ending finished goods inventory $95,000 Cost of goods sold $1,595,000 Required 1. Prepare a statement of cost of goods manufactured. 2. Calculate cost of goods sold....
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This note was uploaded on 10/16/2011 for the course MGT 134 taught by Professor Housekeeper during the Fall '11 term at UCSD.

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Fall 2011 HW2 - Rent $425,000 Indirect Materials $70,000...

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