Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,700 Ending $ 21,700 $ 17,700 $ 10,700 $ 48,700 $ 56,700 Inventories Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Prepare a Schedule of Cost of Goods Manufactured. Beginning work in process inventory Direct materials: Total raw materials available for use Raw materials used in production Direct materials used in production BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory Cost of goods available for sale Unadjusted cost of goods sold Adjusted cost of goods sold 0 0 $ 0 $ 72,700 $ 92,700 $ 42,770 $ 4,070 $ 41,700 $ 0 0 0 0 0 0
Bledsoe Corporation has provided the following data for the month of November: Beginning $ 25,700 Ending $ 21,700 $ 17,700 $ 10,700 $ 48,700 $ 56,700 Inventories Raw materials Work in process Finished Goods Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. Prepare a Schedule of Cost of Goods Manufactured. Beginning work in process inventory Direct materials: Total raw materials available for use Raw materials used in production Direct materials used in production BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured BLEDSOE CORPORATION Schedule of Cost of Goods Sold Beginning finished goods inventory Cost of goods available for sale Unadjusted cost of goods sold Adjusted cost of goods sold 0 0 $ 0 $ 72,700 $ 92,700 $ 42,770 $ 4,070 $ 41,700 $ 0 0 0 0 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Bledsoe Corporation has provided the following data for the month of November:
Ending
$ 21,700
Beginning
$ 25,700
$ 17,700
$ 48,700
$ 10,700
$ 56,700
Inventories
Raw materials
Work in process
Finished Goods
Additional information:
Raw materials purchases
Direct labor cost
Manufacturing overhead cost incurred
Indirect materials included in manufacturing overhead cost incurred
Manufacturing overhead cost applied to Work in Process
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.
Prepare a Schedule of Cost of Goods Manufactured.
Beginning work in process inventory
Direct materials:
Total raw materials available for use
Raw materials used in production
Direct materials used in production
BLEDSOE CORPORATION
Schedule of Cost of Goods Manufactured
Total manufacturing costs added to production
Total manufacturing costs to account for
Cost of goods manufactured
BLEDSOE CORPORATION
Schedule of Cost of Goods Sold
Beginning finished goods inventory
Cost of goods available for sale
Unadjusted cost of goods sold
Adjusted cost of goods sold
0
0
$
0
$ 72,700
$ 92,700
$ 42,770
$ 4,070
$ 41,700
$
0
0
0
0
0
0
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