Exercise 5-10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO6] The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventory Raw materials Work in process Finished goods Direct materials Beginning of Year Total manufacturing costs Raw materials used in production Cost of goods manufactured $ 8,000 5,000 70,000 Required: 1. Prepare a schedule of cost of goods manufactured, Assume all raw materials used in production were direct materials End of Year $10,000 20,000 25,000 ECCLES COMPANY Schedule of Cost of Goods Manufactured $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000
Exercise 5-10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO6] The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventory Raw materials Work in process Finished goods Direct materials Beginning of Year Total manufacturing costs Raw materials used in production Cost of goods manufactured $ 8,000 5,000 70,000 Required: 1. Prepare a schedule of cost of goods manufactured, Assume all raw materials used in production were direct materials End of Year $10,000 20,000 25,000 ECCLES COMPANY Schedule of Cost of Goods Manufactured $ 643,000 90,000 132,000 100,000 43,000 210,000 220,000
Chapter1: Financial Statements And Business Decisions
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![Exercise 5-10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO6]
The following data from the just-completed year are taken from the accounting records of Eccles Company.
Sales
Direct labour cost
Raw material purchases
Selling expenses
Administrative expenses
Manufacturing overhead applied to work in process
Actual manufacturing overhead costs
Inventory
Raw materials.
Work in process
Finished goods
Direct materials.
Beginning of
Year
$ 8,000
5,000
70,000
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials
Total manufacturing costs
Raw materials used in production
Cost of goods manufactured
End of Year
$10,000
20,000
25,000
ECCLES COMPANY
Schedule of Cost of Goods Manufactured i
$ 643,000
90,000
132,000
100,000
43,000
210,000
220,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42b072c6-14da-4be2-a91a-d8ef8b8d81b3%2F910dd10c-e509-4798-8df7-95a0dfdb161c%2Fpxzs9v9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 5-10 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO6]
The following data from the just-completed year are taken from the accounting records of Eccles Company.
Sales
Direct labour cost
Raw material purchases
Selling expenses
Administrative expenses
Manufacturing overhead applied to work in process
Actual manufacturing overhead costs
Inventory
Raw materials.
Work in process
Finished goods
Direct materials.
Beginning of
Year
$ 8,000
5,000
70,000
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials
Total manufacturing costs
Raw materials used in production
Cost of goods manufactured
End of Year
$10,000
20,000
25,000
ECCLES COMPANY
Schedule of Cost of Goods Manufactured i
$ 643,000
90,000
132,000
100,000
43,000
210,000
220,000
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