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How can I find the Cost of sales for cell D54?

How can I find the Cost of sales for cell D54?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How can I find the Cost of sales for cell D54? 

A. B 1 2. 3 4 MFG ManufactningAoounting Data Section 6 7 Depreciation--equipment 8 Direct labor 9 Direct materials inventory, 1/1 10 Direct materialsinventoru. 12/31 11 Factorurent 12 Finished goods, 1/1 13 Finished goods, 12/31 14 Indirect labor 15 Indirect materials 16 Purchases of direct materials 17 Work in process, 1/1 18 Work in process, 12/31 19 Sales 20 Selling Expenses 21 General Expenses 22 23 24 25 26 27 28 29 Direct materials $180,000 2,568,000 366,000 372,000 305,640 528,000 690,000 150,000 105,000 2,580,720 121,200 114,660 13,503,000 2,400,000 1,200,000 Answer Section Twisp Industries Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2011 Direct materials inventory, 1/1 30 31 $366,000 Purchases of direci 2,580,720 $2,946,720 372.000 $2,574,720 2,568,000 Add: 32 33 Cost of direct materials available Less: Direct materials inv 34 Cost of direct materials used 35 Direct labor 36 Manufacturing overhead: Factory rent 38 Depreciation--equipment 39 Indirect labor 40 Indirect materials 41 Total manufacturing costs Work in prooess, 1/1 37 $305,640 180,000 150,000 105.000 740,640 $5,883,360 121,200 $6,004,560 114,660 $5,889,900 42 43 44 Total work in process available Less: Work in process, 12 45 Cost of goods manufactured 46 Finished goods, 1/1 47 528,000 $6,417,900 Cost of goods available for sale Less: 48 Finished goods, 12/31 690,000 $5,727,900 49 Cost of good sold 50 Selling and Distribution Overhead 51 Selling Expenses 52 2,400,000 1,200,000 General Expenses 53 Total Selling and Distribution Overhead 54 Cost of Sales 55 56 $3,600,000 Profit Sales 13,503,000 57
Transcribed Image Text:A. B 1 2. 3 4 MFG ManufactningAoounting Data Section 6 7 Depreciation--equipment 8 Direct labor 9 Direct materials inventory, 1/1 10 Direct materialsinventoru. 12/31 11 Factorurent 12 Finished goods, 1/1 13 Finished goods, 12/31 14 Indirect labor 15 Indirect materials 16 Purchases of direct materials 17 Work in process, 1/1 18 Work in process, 12/31 19 Sales 20 Selling Expenses 21 General Expenses 22 23 24 25 26 27 28 29 Direct materials $180,000 2,568,000 366,000 372,000 305,640 528,000 690,000 150,000 105,000 2,580,720 121,200 114,660 13,503,000 2,400,000 1,200,000 Answer Section Twisp Industries Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2011 Direct materials inventory, 1/1 30 31 $366,000 Purchases of direci 2,580,720 $2,946,720 372.000 $2,574,720 2,568,000 Add: 32 33 Cost of direct materials available Less: Direct materials inv 34 Cost of direct materials used 35 Direct labor 36 Manufacturing overhead: Factory rent 38 Depreciation--equipment 39 Indirect labor 40 Indirect materials 41 Total manufacturing costs Work in prooess, 1/1 37 $305,640 180,000 150,000 105.000 740,640 $5,883,360 121,200 $6,004,560 114,660 $5,889,900 42 43 44 Total work in process available Less: Work in process, 12 45 Cost of goods manufactured 46 Finished goods, 1/1 47 528,000 $6,417,900 Cost of goods available for sale Less: 48 Finished goods, 12/31 690,000 $5,727,900 49 Cost of good sold 50 Selling and Distribution Overhead 51 Selling Expenses 52 2,400,000 1,200,000 General Expenses 53 Total Selling and Distribution Overhead 54 Cost of Sales 55 56 $3,600,000 Profit Sales 13,503,000 57
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Cost of sales is means total cost of manufacturing and selling the product.

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