1. Al Marai Corporation has the following cost records for June 2019. OMR 4,500 20,000 Indirect factory labor Direct materials used Work in process, 6/1/19 Work in process, 6/30/19 Finished goods, 6/1/19 Finished goods, 6/30/19 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary 3,000 3,800 5,000 7,500 400 1,400 40,000 1,800 2,200 3,000 Instructions: Prepare a cost of goods manufactured schedule for June 2019.

1. Al Marai Corporation has the following cost records for June 2019. OMR 4,500 20,000 Indirect factory labor Direct materials used Work in process, 6/1/19 Work in process, 6/30/19 Finished goods, 6/1/19 Finished goods, 6/30/19 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary 3,000 3,800 5,000 7,500 400 1,400 40,000 1,800 2,200 3,000 Instructions: Prepare a cost of goods manufactured schedule for June 2019.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Indirect factory labor Direct materials used has the following cost records for June 2025. Work in…

A: Lets understand the basics.The cost of goods manufactured schedule is used to calculate the cost of…

Q: Duqm Sugar Factory had the following data: Jan. 1, 2019 Dec. 31, 2019 Raw materials inventory OMR…

A: Cost of goods manufactured: The cost of goods manufactured refers to the expenses incurred by the…

Q: Need Help with this Question

A: Step 1 : Introduction to Gross Profit:Gross profit is earned after meeting the direct costs…

Q: Splish Brothers Corporation has the following cost records for June 2025. Indirect factory labor…

A: Answer information:Step 1:a.Cost of Goods Manufactured Splish Brothers Corporation Cost of Goods…

Q: hich of the following Answers below best fits in each black space? The ending balance of works in…

Q: (Click the icon to view the data.) Requirements 1. Use information in the first two bullet points to…

A: The beginning WIP is added to the total manufacturing costs to get the total work in process costs.…

Q: $ 8,500 $20,900 Direct materials used Direct labor Sales salaries $10,500 $ 1,870 $ 6,070 $ 9,230 $…

A: Conversion cost = Direct labor cost + Direct expense + Factory overhead Direct labor cost = $20,900…

Q: Use the information below for the year ended December, 2019 to prepare the Statement of Costs of…

A: Raw materials: It is the basic input required to manufacture the finished products. The raw…

Q: Ivanhoe Corporation has the following cost records for the year ended December 31, 2022: Indirect…

A: Direct materials are the raw materials that are directly used in the production process. In this…

Q: Aikman Corporation has the following cost records for June 2022: Indirect factory labour Direct…

A: SCHEDUALE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those Cost Which…

Question

1. Al Marai Corporation has the following cost records for June 2019.
OMR 4,500
20,000
Indirect factory labor
Direct materials used
Work in process, 6/1/19
Work in process, 6/30/19
Finished goods, 6/1/19
Finished goods, 6/30/19
Factory utilities
Depreciation, factory equipment
Direct labor
Maintenance, factory equipment
Indirect materials
Factory manager's salary
3,000
3,800
5,000
7,500
400
1,400
40,000
1,800
2,200
3,000
Instructions:
Prepare a cost of goods manufactured schedule for June 2019.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Concept - Introduction

VIEW

To determine - Cost of goods manufactured schedule

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Industry analysis: Project management in construction industry

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Bubba Manufacturing Company provided the following information for the fiscal year to June 30, 2020: Inventories 01/07/2019 30/06/2020 Direct Materials $72,000 $65,000 Work-in-Process 107,000 128,000 Finished Goods 149,500 141,700 Other information: Office cleaner’s wages 4,500 Sales Revenue 1,031,000 Raw materials purchased 235,000 Factory wages 239,700 Indirect materials 23,500 Delivery truck driver’s wages 15,400 Indirect labor 9,500 Depreciation on factory plant & equipment 32,000 Insurance1 60,000 Depreciation on delivery truck 7,250 Utilities2 118,750 Administrative salaries 41,250 Special Design Costs 5,000 Selling expenses 9,000 Sales Comm ission 2% of gross profit 1 Of the total insurance, 66⅔% relates to the factory facilities & 33⅓% relates to general & administrative costs. 2 Of the total utilities, 80% relates to the…
The cost of raw materials purchases for 2019 is?
Do not give answer in image
The following manufacturing costs data are available for Division 911; Work in process, January 1, 2018: Job No. Factory Ouerhead Total P145,000 Materials Labor 156 P35,000 PG0,000 P44,000 Costa for 2018 Incurred by Jobe Total P16,000 158.000 42.000 10.000 Materials Labor Other 156 157 158 159 P- P2,000 52,000 24,000 8,000 P14,000 106,000 18,000 2.000 Not Incurred by Joba Indirect materials and sagddns Employee beneits Depreciation Supervision 30,000 30,000 106,000 46,000 24.000 40,000 Indirect labor 106,000 46,000 24,000 40,000 Factory overhead for 2018: Budgeted Manufacturing Overhead: Variable - Indirect materials and supplies Indirect labor Employee benefits Depreciation Supervision P 32,000 112,000 48,000 24,000 40,000 Fixed Total P256,000 Budgeted Direct Labor Costs P160,000 Manufacturing Overhead rate per direct labor cost (P256,000/P160,000) 160% Compute the actual manufacturing overhead. Compute the applied manufacturing overhead. Compute the net overhead variance (indicate…
The following cost data pertains to DEF Inc. for December 31st, 2022: Ending Raw Materials Inventory: Beginning Work-in-Process: Ending Work-in-Process: Direct Materials Used: Direct Costs Incurred in Production: Indirect costs incurred in Production: Beginning Finished Goods Inventories: Ending Finished Goods Inventories: Sales: Selling and Administrative Expenses: Applied Overhead for the period: $50,000 $30,000 $15,000 $20,000 $40,000 $40,000 $40,000 $20,000 $190,000 $40,000 $40,000 The cost of goods sold for 2022 is $115,000 x. $137,000 $175,000 $135,000
Monty Corporation has the following cost records for June 2022. Indirect factory labor $4,500 Factory utilities $390 Direct materials used 19,600 Depreciation, factory equipment 1,370 Work in process, 6/1/22 2,940 Direct labor 39,200 Work in process, 6/30/22 3,720 Maintenance, factory equipment 1,760 Finished goods, 6/1/22 Finished goods, 6/30/22 4,900 Indirect materials 2,250 7,350 Factory manager's salary 2,940 (a) Prepare a cost of goods manufactured schedule for June 2022. MONTY CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2022 > > > $ $ $ $
Cepeda Corporation has the following cost records for June 2018: + Indirect factory labor $4,500 Factory utilities $400 Direct materials used 20,000 Depreciation, factory equipment 1,400 Work in process, 6/1/18 3,000 Direct labor 40,000 Work in process, 6/30/18 3,800 Maintenance, factory equipment 1,800 Finished goods, 6/1/18 5,000 Indirect materials 2,200 Finished goods, 6/30/18 7,500 Factory manager's salary 3,000 Instructions a. Prepare a cost of goods manufactured schedule for June 2018. b. Prepare an income statement through gross profit for June 2018 assuming sales revenue is $92,100.
Cepeda Corporation has the following cost records for June 2018: + Indirect factory labor $4,500 Factory utilities $400 Direct materials used 20,000 Depreciation, factory equipment 1,400 Work in process, 6/1/18 3,000 Direct labor 40,000 Work in process, 6/30/18 3,800 Maintenance, factory equipment 1,800 Finished goods, 6/1/18 5,000 Indirect materials 2,200 Finished goods, 6/30/18 7,500 Factory manager's salary 3,000 Instructions a. Prepare a cost of goods manufactured schedule for June 2018. b. Prepare an income statement through gross profit for June 2018 assuming sales revenue is $92,100.