Beginning of 2013 Prepare a schedule for the cost of goods manufactured for | 2013. Begin by preparing the schedule of cost of goods manufactured(in thousands). Start with the direct materials and labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods End of 2013 manufactured. Direct materials inventory $27,000 s28,000 Work-in-process inventory 29,000 22.000 Finished goods inventory 16,000 25.000 Purchases of direct materials 73,000 Direct manufacturing labor 24,000 Indirect manufacturing labor 18.000 Plant insurance 6,000 Depreciationa€"plant, building, and equipment 17.000 Repairs and maintenances€"plant 2.000 111.000 Marketing, distribution, and customer-service costs General and administrative costs 36.000

Beginning of 2013 Prepare a schedule for the cost of goods manufactured for | 2013. Begin by preparing the schedule of cost of goods manufactured(in thousands). Start with the direct materials and labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods End of 2013 manufactured. Direct materials inventory $27,000 s28,000 Work-in-process inventory 29,000 22.000 Finished goods inventory 16,000 25.000 Purchases of direct materials 73,000 Direct manufacturing labor 24,000 Indirect manufacturing labor 18.000 Plant insurance 6,000 Depreciationa€"plant, building, and equipment 17.000 Repairs and maintenances€"plant 2.000 111.000 Marketing, distribution, and customer-service costs General and administrative costs 36.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Prepare a schedule for the cost of goods
manufactured for
End of 2013
Beginning of 2013
2013.
Begin by preparing the schedule of cost of
goods manufactured(in thousands). Start with
the direct materials and labor costs, then
indirect manufacturing costs, and complete
the schedule by calculating cost of goods
manufactured.
Direct materials inventory
$27,000
$28,000
Work-in-process inventory
29,000
22.000
Finished goods inventory
16,000
25,000
Purchases of direct materials
73,000
Direct manufacturing labor
24,000
Indirect manufacturing labor
18,000
Plant insurance
6,000
Depreciationa€"plant, building, and
equipment
17,000
Repairs and maintenancea€"plant
2.000
Marketing, distribution, and customer-service
costs
111,000
General and administrative costs
36,000

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