Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 26,300 $ 22,300 Work in process $ 18,300 $ 11,300 Finished Goods $ 49,300 $ 57,300 Additional information: Raw materials purchases $ 73,300 Direct labor cost $ 93,300 Manufacturing overhead cost incurred $ 43,430 Indirect materials included in manufacturing overhead cost incurred $ 4,130 Manufacturing overhead cost applied to Work in Process $ 42,300 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.
Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 26,300 $ 22,300 Work in process $ 18,300 $ 11,300 Finished Goods $ 49,300 $ 57,300 Additional information: Raw materials purchases $ 73,300 Direct labor cost $ 93,300 Manufacturing overhead cost incurred $ 43,430 Indirect materials included in manufacturing overhead cost incurred $ 4,130 Manufacturing overhead cost applied to Work in Process $ 42,300 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Bledsoe Corporation has provided the following data for the month of November:
| Inventories: | Beginning | Ending | ||
| Raw materials | $ | 26,300 | $ | 22,300 |
| Work in process | $ | 18,300 | $ | 11,300 |
| Finished Goods | $ | 49,300 | $ | 57,300 |
Additional information:
| Raw materials purchases | $ | 73,300 |
| Direct labor cost | $ | 93,300 |
| Manufacturing |
$ | 43,430 |
| Indirect materials included in manufacturing overhead cost incurred | $ | 4,130 |
| Manufacturing overhead cost applied to Work in Process | $ | 42,300 |
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.
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