Ask Question
31 January, 00:29

Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 26,400 $ 22,400 Work in process $ 18,400 $ 11,400 Finished Goods $ 49,400 $ 57,400 Additional information: Raw materials purchases $ 73,400 Direct labor cost $ 93,400 Manufacturing overhead cost incurred $ 43,540 Indirect materials included in manufacturing overhead cost incurred $ 4,140 Manufacturing overhead cost applied to Work in Process $ 42,400 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

+3
Answers (1)
  1. 31 January, 01:54
    0
    Instructions are listed below

    Explanation:

    Giving the following information:

    Beginning Raw materials $26,400

    Ending Raw materials $22,400

    Beginning Work in process $ 18,400

    Ending Work in process $ 11,400

    Beginning Finished Goods $ 49,400

    Ending Finished Goods $ 57,400

    Additional information:

    Raw materials purchases $ 73,400

    Direct labor cost $ 93,400

    Manufacturing overhead cost incurred $ 43,540

    Indirect materials included in manufacturing overhead cost incurred $ 4,140

    Manufacturing overhead cost applied to Work in Process $ 42,400

    A) Cost of goods manufactured:

    Beginning Work in process $ 18,400

    Beginning Raw materials $26,400

    Raw materials purchases $ 73,400

    Ending Raw materials $22,400 (-)

    Direct labor cost $ 93,400

    Manufacturing overhead cost applied $ 42,400

    Ending Work in process $ 11,400 (-)

    Total = $220,200

    B) Cost of goods sold:

    Beginning Finished Goods $ 49,400

    Cost of goods manufactured $220,200

    Ending Finished Goods $ 57,400 (-)

    Unadjusted COGS = $212,200

    Underapplied MOH = 1140

    Adjusted COGS = $213,340
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 26,400 $ 22,400 Work in ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers