Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured $ 50000 177,600 227600 26,000 20,800 40,000 76,800 $201,600 222000 137,600 359600 450000 90,400 $604,800
Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured $ 50000 177,600 227600 26,000 20,800 40,000 76,800 $201,600 222000 137,600 359600 450000 90,400 $604,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Need help with the correct figures for the boxes shown outlined in red, in the attached image.
Transcribed Image Text:Work in process (1/1)
Direct materials
Raw materials inventory (1/1)
Add: Raw materials purchases
Total raw materials available for
use
Less: Raw materials inventory
(12/31)
Direct materials used
Direct labor
Manufacturing overhead
Indirect labor
Factory depreciation
Factory utilities
Total overhead
Total manufacturing costs
Total cost of work in process
Less: Work in process (12/31)
Cost of goods manufactured
$
50000
177,600
227600
26,000
20,800
40,000
76,800
$201,600
222000
137,600
$235,200
359600
450000
90,400
$604,800
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