Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $310,000 $276,600 Work in process 215,200 238,400 Finished goods 162,800 190,100 January 31 Direct labor $565,000 Materials purchased during January 604,800 Factory overhead incurred during January: Indirect labor 60,440 Machinery depreciation 35,000 Heat, light, and power 13,600 Supplies 8,540 Property taxes 8,860 Miscellaneous costs 16,400 Required: A. Prepare a cost of goods manufactured statement for January. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Enter all amounts as positive numbers. Be sure to complete the statement heading. B. Determine the cost of goods sold for January.
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $310,000 $276,600 Work in process 215,200 238,400 Finished goods 162,800 190,100 January 31 Direct labor $565,000 Materials purchased during January 604,800 Factory overhead incurred during January: Indirect labor 60,440 Machinery depreciation 35,000 Heat, light, and power 13,600 Supplies 8,540 Property taxes 8,860 Miscellaneous costs 16,400 Required: A. Prepare a cost of goods manufactured statement for January. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Enter all amounts as positive numbers. Be sure to complete the statement heading. B. Determine the cost of goods sold for January.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows:
|
Inventories
|
January 1
|
January 31
|
| Materials | $310,000 | $276,600 |
| Work in process | 215,200 | 238,400 |
| Finished goods | 162,800 | 190,100 |
|
|
January 31
|
| Direct labor | $565,000 |
| Materials purchased during January | 604,800 |
| Factory |
|
| Indirect labor | 60,440 |
| Machinery |
35,000 |
| Heat, light, and power | 13,600 |
| Supplies | 8,540 |
| Property taxes | 8,860 |
| Miscellaneous costs | 16,400 |
| Required: | |
| A. | Prepare a cost of goods manufactured statement for January. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Enter all amounts as positive numbers. Be sure to complete the statement heading. |
| B. | Determine the cost of goods sold for January. |
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