Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost Purchases of direct materials Freight-in on materials Factory supplies used Factory utilities Commissions paid Factory supervision and indirect labor Advertising Materials handling Work-in-process inventory, January 1 Work-in-process inventory, December 31 Direct materials inventory, January 1 Direct materials inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 1. Prepare a cost of goods manufactured statement, Anglin Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: Materials available Direct materials used in production Manufacturing overhead: Total overhead costs Total manufacturing costs added $493,470 375,470 7,390 18,530 53,340 78,077 166,820 144,760 17,960 203,780 116,660 36,360 37,730 57,130 61,840
Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost Purchases of direct materials Freight-in on materials Factory supplies used Factory utilities Commissions paid Factory supervision and indirect labor Advertising Materials handling Work-in-process inventory, January 1 Work-in-process inventory, December 31 Direct materials inventory, January 1 Direct materials inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 1. Prepare a cost of goods manufactured statement, Anglin Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: Materials available Direct materials used in production Manufacturing overhead: Total overhead costs Total manufacturing costs added $493,470 375,470 7,390 18,530 53,340 78,077 166,820 144,760 17,960 203,780 116,660 36,360 37,730 57,130 61,840
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Cost of Goods Manufactured and Sold
Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last
calendar year:
Direct labor cost
Purchases of direct materials
Freight-in on materials.
Factory supplies used
Factory utilities
Commissions paid
Factory supervision and indirect labor
Advertising
Materials handling
Work-in-process inventory, January 1
Work-in-process inventory, December 31.
Direct materials inventory, January 1
Direct materials inventory, December 31
Finished goods inventory, January 1
Finished goods inventory, December 31
1. Prepare a cost of goods manufactured statement
Anglin Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Direct materials:
Materials available
Direct materials used in production
Manufacturing overhead:
Total overhead costs
Total manufacturing costs added
Total overhead costs
Total manufacturing costs added
Cost of goods manufactured
2. Prepare a cost of goods sold statement.
Anglin Company
Statement of Cost of Goods
Sold
For the Year Ended December
31
0000 0000
Cost of goods sold
$493,470
375,470
7,390
18,530
53,340
78,077
166,820
144,760
17,960
203,780
116,660
36,360
37,730
57,130
61,840
00000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5712dc25-c1f6-4c20-bc5d-c718fbb63b0d%2Fe3872fcf-6484-4f53-9f6c-89a543843af1%2Fo9wchj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cost of Goods Manufactured and Sold
Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last
calendar year:
Direct labor cost
Purchases of direct materials
Freight-in on materials.
Factory supplies used
Factory utilities
Commissions paid
Factory supervision and indirect labor
Advertising
Materials handling
Work-in-process inventory, January 1
Work-in-process inventory, December 31.
Direct materials inventory, January 1
Direct materials inventory, December 31
Finished goods inventory, January 1
Finished goods inventory, December 31
1. Prepare a cost of goods manufactured statement
Anglin Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Direct materials:
Materials available
Direct materials used in production
Manufacturing overhead:
Total overhead costs
Total manufacturing costs added
Total overhead costs
Total manufacturing costs added
Cost of goods manufactured
2. Prepare a cost of goods sold statement.
Anglin Company
Statement of Cost of Goods
Sold
For the Year Ended December
31
0000 0000
Cost of goods sold
$493,470
375,470
7,390
18,530
53,340
78,077
166,820
144,760
17,960
203,780
116,660
36,360
37,730
57,130
61,840
00000
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