Inventories Materials January 1 January 31 302,000 278,000 Work in process 215,600 238,200 Finished goods 163,000 187,100 Direct labor Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs January 31 569,000 608,600 60,680 36,000 12,400 8,160 8,060 16,400 Prepare a cost of goods manufactured statement for January and determine the cost of goods sold:
Inventories Materials January 1 January 31 302,000 278,000 Work in process 215,600 238,200 Finished goods 163,000 187,100 Direct labor Materials purchased during the month Factory overhead incurred during the month: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs January 31 569,000 608,600 60,680 36,000 12,400 8,160 8,060 16,400 Prepare a cost of goods manufactured statement for January and determine the cost of goods sold:
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 5E: Recording materials transactions Prepare a journal entry to record each of the following materials...
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![Inventories
January 1 January 31
Materials
302,000 278,000
Work in process 215,600 238,200
Finished goods 163,000 187,100
Direct labor
Materials purchased during the month
Factory overhead incurred during the month:
Indirect labor
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
January 31
569,000
608,600
60,680
36,000
12,400
8,160
8,060
16,400
Prepare a cost of goods manufactured statement for January and determine the cost of goods sold for
January.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F43c03c54-357b-45b3-9e32-75dd8aab03a8%2Fa85d12db-5172-480a-9357-122de9e3f3e7%2Fpu6g5vp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Inventories
January 1 January 31
Materials
302,000 278,000
Work in process 215,600 238,200
Finished goods 163,000 187,100
Direct labor
Materials purchased during the month
Factory overhead incurred during the month:
Indirect labor
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
January 31
569,000
608,600
60,680
36,000
12,400
8,160
8,060
16,400
Prepare a cost of goods manufactured statement for January and determine the cost of goods sold for
January.
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