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25 February, 20:21

1. Prepare a cost of goods manufactured statement for January. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

2. Determine the cost of goods sold for January.

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories January 1 January 31

Materials $314,000 $276,800

Work in process 216,000 239,800

Finished goods 163,200 189,000

January 31

Direct labor $567,000

Materials purchased during the month 606,600

Factory overhead incurred during the month:

Indirect labor 60,520

Machinery depreciation 32,000

Heat, light, and power 12,200

Supplies 8,220

Property taxes 8,880

Miscellaneous costs

16,460

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Answers (1)
  1. 25 February, 21:03
    0
    Cost Of Goods Manufactured $ 1326,080

    Cost of Goods Sold Statement $1300,280

    Explanation:

    Sandusky Manufacturing Company

    Cost of goods Manufactured & Sold Statement

    Month ended January 31

    Direct Materials (opening Inventory) 314,000

    Add Purchases 606,600

    Less Ending Inventory (276,800)

    Materials available for Use 643,800

    Add Direct Labor 567,000

    Factory Overhead

    Indirect Manufacturing Labor 60,520

    Supplies 8,220

    Depreciation 32,000

    Heat Light Power 12,2000

    Property taxes 8,880

    Miscellaneous costs 16,460 138,280

    1349,080

    Add Opening WIP 216,000

    Less Closing WIP 239,000

    Cost Of Goods Manufactured $ 1326,080

    Add Beginning Finished goods 163,200

    Less Ending Finished Goods 189,000

    Cost of Goods Sold Statement $1300,280
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