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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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