In January 2022, Wildhorse Manufacturing incurred the following costs in manufacturing Detecto, its only product: Direct materials purchased Direct labour incurred Benefits Overtime premium Supervisory salaries Utility expenses Depreciation (equipment) Supplies (factory) Factory rent $1,395,000 1,100,500 116,250 77,500 193,750 142,600 4,340 15,500 48,050 An analysis of the accounting records showed the following balances in the inventory accounts at the beginning and end of January: Direct materials $124,000 January 1 January 31 $139,500 An analysis of the accounting records showed the following balances in the inventory accounts at the beginning and end of January:
In January 2022, Wildhorse Manufacturing incurred the following costs in manufacturing Detecto, its only product: Direct materials purchased Direct labour incurred Benefits Overtime premium Supervisory salaries Utility expenses Depreciation (equipment) Supplies (factory) Factory rent $1,395,000 1,100,500 116,250 77,500 193,750 142,600 4,340 15,500 48,050 An analysis of the accounting records showed the following balances in the inventory accounts at the beginning and end of January: Direct materials $124,000 January 1 January 31 $139,500 An analysis of the accounting records showed the following balances in the inventory accounts at the beginning and end of January:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:In January 2022, Wildhorse Manufacturing incurred the following costs in manufacturing Detecto, its only product:
Direct materials purchased
Direct labour incurred
Benefits
Overtime premium
Supervisory salaries
Utility expenses
Depreciation (equipment)
Supplies (factory)
Factory rent
Direct materials
Direct materials
Work in process
Finished goods
January 1
$124,000
(a)
January 1
$124,000
$1,395,000
170,500
1,100,500
An analysis of the accounting records showed the following balances in the inventory accounts at the beginning and end of January:
147,250
116,250
77,500
193,750
142,600
An analysis of the accounting records showed the following balances in the inventory accounts at the beginning and end of January:
4,340
15,500
48,050
January 31
$139,500
January 31
$139,500
115,630
Wildhorse treats overtime premiums and benefits as indirect costs.
Cost of goods manufactured $
167,400
Determine the cost of goods manufactured for January 2022.
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