Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:AccountsAmountWork-in-process inventory (January 1)$ 140,400Work-in-process inventory (March 31) 171,000Finished goods inventory (January 1) 540,000Finished goods inventory (March 31) 510,000Direct materials used378,000Indirect materials used84,000Direct manufacturing labor480,000Indirect manufacturing labor186,000Property taxes on manufacturing plant building28,800Salespersons' company vehicle costs12,000Depreciation of manufacturing equipment264,000Depreciation of office equipment123,600Miscellaneous plant overhead 135,000Plant utilities92,400General office expenses305,400Marketing distribution costs30,000 In an Excel spreadsheet, using the format on page 42 of your textbook, prepare the following:Statement of cost of goods manufactured for the period ended March 31.Statement of cost of goods sold for the period ended March 31.

Name: Messinger Manufacturing Company had the following account balances for
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Description: Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:AccountsAmountWork-in-process inventory (January 1)$ 140,400Work-in-process inventory (March 31) 171,000Finished goods inventor

The cost of goods manufactured represents the cost incurred on manufacturing a product.

Answered: Messinger Manufacturing Company had the…

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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Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:

Accounts	Amount
Work-in-process inventory (January 1)	$ 140,400
Work-in-process inventory (March 31)	171,000
Finished goods inventory (January 1)	540,000
Finished goods inventory (March 31)	510,000
Direct materials used	378,000
Indirect materials used	84,000
Direct manufacturing labor	480,000
Indirect manufacturing labor	186,000
Property taxes on manufacturing plant building	28,800
Salespersons' company vehicle costs	12,000
Depreciation of manufacturing equipment	264,000
Depreciation of office equipment	123,600
Miscellaneous plant overhead	135,000
Plant utilities	92,400
General office expenses	305,400
Marketing distribution costs	30,000

In an Excel spreadsheet, using the format on page 42 of your textbook, prepare the following:

Statement of cost of goods manufactured for the period ended March 31.
Statement of cost of goods sold for the period ended March 31.

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