Consider the following account balances (in thousands) for the Canseco Company: Beglnning of End of Canseco Company 2014 2014 Direct materials inventory 26,000 29,000 Work-in-process inventory 25,000 21,000 Finished goods inventory 17,000 20,000 Purchases of direct materials 79,000 Direct manufacturing labor 23,000 Indirect manufacturing labor 11.000 Plant insurance 8,000 Depreciation-plant, building, and equipment 10.000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 92,000 General and administrative costs 36,000 1. Prepare a schedule for the cost of goods manufactured for 2014.

Consider the following account balances (in thousands) for the Canseco Company: Beglnning of End of Canseco Company 2014 2014 Direct materials inventory 26,000 29,000 Work-in-process inventory 25,000 21,000 Finished goods inventory 17,000 20,000 Purchases of direct materials 79,000 Direct manufacturing labor 23,000 Indirect manufacturing labor 11.000 Plant insurance 8,000 Depreciation-plant, building, and equipment 10.000 Repairs and maintenance-plant 5,000 Marketing, distribution, and customer-service costs 92,000 General and administrative costs 36,000 1. Prepare a schedule for the cost of goods manufactured for 2014.

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question

Consider the following account balances (in thousands) for the Canseco Company:
Beglnning of
End of
Canseco Company
2014
2014
Direct materials inventory
26,000
29,000
Work-in-process inventory
25,000
21,000
Finished goods inventory
17,000
20,000
Purchases of direct materials
79,000
Direct manufacturing labor
23,000
Indirect manufacturing labor
11,000
Plant insurance
8,000
Depreciation-plant, building, and equipment
10,000
Repairs and maintenance-plant
5,000
Marketing, distribution, and customer-service costs
92,000
General and administrative costs
36,000
1. Prepare a schedule for the cost of goods manufactured for 2014.

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