6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $9,000, and work in process at the end of January is estimated to be $10,500. For those boxe in which you must enter subtracted or negative numbers use a minus sign. Finished goods inventory, January 1 Work in process inventory, January 1 Direct materials: Birding Homes & Feeders Inc. Cost of Goods Sold Budget For the Month Ending January 31 く Direct materials inventory, January 1 Direct materials purchases く 42,500 X Incorrect 9,000 ✔ Cost of direct materials available for use Direct materials inventory, January 31 Cost of direct materials placed in production Direct labor Factory overhead Total manufacturing costs Total work in process during period Work in process inventory, January 31 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, January 31 Cost of goods sold いく 2,300 84,840 87,140 -2,250 84,890 379,650 75,000 539,540 $548,540 -10,500 538,040 ✔ 541,840 X -46,500 533,848 X

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $9,000, and work in process at the end of January is estimated to be $10,500. For those boxes
in which you must enter subtracted or negative numbers use a minus sign.
Birding Homes & Feeders Inc.
Cost of Goods Sold Budget
For the Month Ending January 31
Finished goods inventory, January 1
Work in process inventory, January 1
Direct materials:
Direct materials inventory, January 1
2,300
Direct materials purchases
84,840
Cost of direct materials available for use
87,140
Direct materials inventory, January 31
-2,250
Cost of direct materials placed in production
Direct labor
84,890
379,650
75,000
Factory overhead
Total manufacturing costs
Total work in process during period
Work in process inventory, January 31
Cost of goods manufactured
Cost of finished goods available for sale
Finished goods inventory, January 31
Cost of goods sold
42,500 X
Incorrect
9,000
539,540
$ 548,540
-10,500
538,040 ✔
$ 541,840 X
-46,500
533,848 X
Transcribed Image Text:6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $9,000, and work in process at the end of January is estimated to be $10,500. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Birding Homes & Feeders Inc. Cost of Goods Sold Budget For the Month Ending January 31 Finished goods inventory, January 1 Work in process inventory, January 1 Direct materials: Direct materials inventory, January 1 2,300 Direct materials purchases 84,840 Cost of direct materials available for use 87,140 Direct materials inventory, January 31 -2,250 Cost of direct materials placed in production Direct labor 84,890 379,650 75,000 Factory overhead Total manufacturing costs Total work in process during period Work in process inventory, January 31 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, January 31 Cost of goods sold 42,500 X Incorrect 9,000 539,540 $ 548,540 -10,500 538,040 ✔ $ 541,840 X -46,500 533,848 X
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