P1-5 The information below was taken from the records of Missouri Company for three consecutive months. Calculate the missing amounts to complete the table below: September P ? October November Total manufacturing cost P 360,000 P 370,000 Beginning work in process 80,000 140,000 Ending work in process 120,000 ? ? Cost of goods manufactured 380,000 430,000 Beginning finished goods 110,000 130,000 Ending finished goods Cost of goods sold 90,000 ? ? P 460,000

P1-5 The information below was taken from the records of Missouri Company for three consecutive months. Calculate the missing amounts to complete the table below: September P ? October November Total manufacturing cost P 360,000 P 370,000 Beginning work in process 80,000 140,000 Ending work in process 120,000 ? ? Cost of goods manufactured 380,000 430,000 Beginning finished goods 110,000 130,000 Ending finished goods Cost of goods sold 90,000 ? ? P 460,000

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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PROVIDE Answer with calculation
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Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $180,000 $145,500 Work in process 334,600 290,700 Finished goods 675,000 715,000 Direct labor $2,260,000 Materials purchased during January 1,375,000 Factory overhead incurred during January: Indirect labor 115,000 Machinery depreciation 90,000 Heat, light, and power 55,000 Supplies 18,500 Property taxes 10,000 Miscellaneous costs 33,100 a. Prepare a cost of goods manufactured statement for January.
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