Melville Manufacturing produces metal components for automotive suppliers. Financial records for September show the following: Administrative salaries Depreciation on the administrative building Depreciation on the manufacturing plant Direct labor Direct materials inventory, September 1 Direct materials inventory, September 30 Direct materials purchased during the month Distribution costs Finished goods inventory, September 1 Finished goods inventory, September 30 Indirect manufacturing labor Insurance (on manufacturing plant) Legal fees Maintenance (on the manufacturing plant) Manufacturing plant utiities Marketing costs Other manufacturing plant costs Sales revenue Taxes (on manufacturing plant and property) Work-in-process inventory, September 1 Work-in-process inventory, September 30 $ 2,643,000 1,160,000 1,768,000 4,710,500 1,087,200 1,253,000 8,974,000 675,000 1,660,000 1,387,500 560,000 71,200 514,300 233,400 802,100 767,250 648,880 22,672,920 233,600 421,250 414,700 Required: a. Prepare a cost of goods manufactured and sold statement.

Melville Manufacturing produces metal components for automotive suppliers. Financial records for September show the following: Administrative salaries Depreciation on the administrative building Depreciation on the manufacturing plant Direct labor Direct materials inventory, September 1 Direct materials inventory, September 30 Direct materials purchased during the month Distribution costs Finished goods inventory, September 1 Finished goods inventory, September 30 Indirect manufacturing labor Insurance (on manufacturing plant) Legal fees Maintenance (on the manufacturing plant) Manufacturing plant utiities Marketing costs Other manufacturing plant costs Sales revenue Taxes (on manufacturing plant and property) Work-in-process inventory, September 1 Work-in-process inventory, September 30 $ 2,643,000 1,160,000 1,768,000 4,710,500 1,087,200 1,253,000 8,974,000 675,000 1,660,000 1,387,500 560,000 71,200 514,300 233,400 802,100 767,250 648,880 22,672,920 233,600 421,250 414,700 Required: a. Prepare a cost of goods manufactured and sold statement.

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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