Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning $ 26,000 $ 18,000 $ 49,000 Ending $ 22,000 $ 11,000 $ 57,000 Raw materials Work in process Finished Goods Additional information: Raw materials purchases $73,000 $93,000 $43,100 $ 4,100 $42,000 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. Complete this question by entering your answers in the table below. Schedule of COGM Schedule of COGS Prepare a Schedule of Cost of Goods Manufactured. BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Question
100%

info in images

cturing overhead cost incurred
$ 4,100
$42,000
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.
Complete this question by entering your answers in the table below.
Schedule of
Schedule of
COGM
COGS
Prepare a Schedule of Cost of Goods Sold.
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
$
Schedule of COGM
Schedule of COGS >
Transcribed Image Text:cturing overhead cost incurred $ 4,100 $42,000 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. Complete this question by entering your answers in the table below. Schedule of Schedule of COGM COGS Prepare a Schedule of Cost of Goods Sold. 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 $ Schedule of COGM Schedule of COGS >
Bledsoe Corporation has provided the following data for the month of November:
Inventories:
Beginning
$ 26,000
$ 18,000
$ 49,000
Ending
$ 22,000
$ 11,000
$ 57,000
Raw materials
Work in process
Finished Goods
Additional information:
Raw materials purchases
$73,000
$93,000
$43,100
$ 4,100
$42,000
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.
Complete this question by entering your answers in the table below.
Schedule of
Schedule of
COGM
COGS
Prepare a Schedule of Cost of Goods Manufactured.
BLEDSOE CORPORATION
Schedule of Cost of Goods Manufactured
Direct materials:
Transcribed Image Text:Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning $ 26,000 $ 18,000 $ 49,000 Ending $ 22,000 $ 11,000 $ 57,000 Raw materials Work in process Finished Goods Additional information: Raw materials purchases $73,000 $93,000 $43,100 $ 4,100 $42,000 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. Complete this question by entering your answers in the table below. Schedule of Schedule of COGM COGS Prepare a Schedule of Cost of Goods Manufactured. BLEDSOE CORPORATION Schedule of Cost of Goods Manufactured Direct materials:
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Database design
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education