At May 31, 2022, the accounts of Sandhill Company show the following. 1. 2. 3. 4. May 1 inventories-finished goods $15,080, work in process $17,560, and raw materials $9,760. May 31 inventories-finished goods $11,400, work in process $19,120, and raw materials $8,480. Debit postings to work in process were direct materials $74,920, direct labor $60,000, and manufacturing overhead applied $48,000. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $258,000.
At May 31, 2022, the accounts of Sandhill Company show the following. 1. 2. 3. 4. May 1 inventories-finished goods $15,080, work in process $17,560, and raw materials $9,760. May 31 inventories-finished goods $11,400, work in process $19,120, and raw materials $8,480. Debit postings to work in process were direct materials $74,920, direct labor $60,000, and manufacturing overhead applied $48,000. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $258,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:At May 31, 2022, the accounts of Sandhill Company show the following.
1.
2.
3.
4.
May 1 inventories-finished goods $15,080, work in process $17,560, and raw materials $9,760.
May 31 inventories-finished goods $11,400, work in process $19,120, and raw materials $8,480.
Debit postings to work in process were direct materials $74,920, direct labor $60,000, and manufacturing overhead applied
$48,000. (Assume that overhead applied was equal to overhead incurred.)
Sales revenue totaled $258,000.

Transcribed Image Text:Prepare a condensed cost of goods manufactured schedule for May 2022.
SANDHILL COMPANY
Cost of Goods Manufactured Schedule
+A
$
$
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Total manufacturing cost = Direct Material + Direct labor + Manufacturing overhead
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