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FINC 577 Chapter 1 Notes Outline

Month manufacturing cost data for the month ended

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Unformatted text preview: ,000 $13,100 Work in Process Chapter 1-24 Beginning $5,000 $7,000 Finished Goods $9,000 $6,000 Example 2 Spivey Spivey Manufacturing also incurred the following costs: Raw Material Purchases $54,000 Direct Labor $57,000 Indirect Labor $5,500 Factory Insurance $4,000 Machinery Depreciation Depreciation $4,000 Machinery Repairs $1,800 Factory Utilities $3,100 Miscellaneous Factory Costs $1,500 Chapter 1-25 Example 2 Part Part a: Prepare the cost of goods manufactured schedule for the month ended June 30 2011 Assume that all raw materials June 30, 2011. Assume that all raw materials used used were direct materials. Part Part b: Show the presentation of the ending inventories on the June 30, 2011, balance sheet sheet. Chapter 1-26 Example 2 ColorColor-coded c...
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