Don't give solution in image format.. 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 $10,500. For those boxesin which you must enter subtracted or negative numbers use a minus sign.Birding Homes & Feeders Inc.Cost of Goods Sold BudgetFor the Month Ending January 31Finished goods inventory, January 1Work in process inventory, January 1Direct materials:Direct materials inventory, January 12,300Direct materials purchases84,840Cost of direct materials available for use87,140Direct materials inventory, January 31-2,250Cost of direct materials placed in productionDirect labor84,890379,65075,000Factory overheadTotal manufacturing costsTotal work in process during periodWork in process inventory, January 31Cost of goods manufacturedCost of finished goods available for saleFinished goods inventory, January 31Cost of goods sold42,500 XIncorrect9,000539,540$ 548,540-10,500538,040 ✔$ 541,840 X-46,500533,848 X

Cost of good sold measures the direct cost which is incurred of production of any goods and services…

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

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 4E: Prepare a cost of goods sold budget for the Crest Hills Manufacturing Co. for the year ended...

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