mic, Inc. (PDI) manufactures and sells cast iron skillets. A finished skillet sells for $40 and costs $15 to manufacture. PDI uses one raw material, iron ore, which is buys for $8/pound. Skillet Forgers heat the iron ore and form it into skillets. Forgers are paid $55/hour. This is PDI's second period of operations. You'll need to use information from Period 1 above to complete the charts for Period 2. During the period, PDI purchased 800 pounds of Iron Ore. At the end of the period, they transferred 1,000 pounds of Iron Ore to WIP. They used 150 hours of direct labor and incurred $12,400 of Factory Overhead. PDI ended the period with $4,850 in WIP and 210 skillets in Finished Goods. Prepare the Schedule of Cost of Goods Manufactured for PDI. Do not use dollar signs. Use whole numbers only (no decimal places) PDI Schedule of Cost of Goods Manufactured Account Dollar Am
Pan Demic, Inc. (PDI) manufactures and sells cast iron skillets. A finished skillet sells for $40 and costs $15 to manufacture. PDI uses one raw material, iron ore, which is buys for $8/pound. Skillet Forgers heat the iron ore and form it into skillets. Forgers are paid $55/hour.
This is PDI's second period of operations. You'll need to use information from Period 1 above to complete the charts for Period 2.
During the period, PDI purchased 800 pounds of Iron Ore. At the end of the period, they transferred 1,000 pounds of Iron Ore to WIP. They used 150 hours of direct labor and incurred $12,400 of Factory
PDI ended the period with $4,850 in WIP and 210 skillets in Finished Goods.
Prepare the Schedule of Cost of Goods Manufactured for PDI.
Do not use dollar signs. Use whole numbers only (no decimal places)
PDI Schedule of Cost of Goods Manufactured
| Account | Dollar Amount |
|---|---|
| Direct Materials Used | |
| Direct Labor | |
| Factory Overhead | 12,400 |
| WIP Beginning Inventory | |
| WIP Ending Inventory | |
| Total Cost of Goods Manufactured (Transferred to Finished Goods) |
|
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