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Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2019 Direct material: Beginning materials inventory Cost of material available Less: Total materials used Less: Direct materials used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Add: Total cost of work in process during the year Less: Cost of goods manufactured Add: Cost of goods available for sale Less: Cost of goods sold → + + ◆ ◆ + ♦ $ 0 0 0 0 0 0 0 0 0 0 0 $ $ 0 0 0 0 0 0 0 0 0 0 0 0

Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2019 Direct material: Beginning materials inventory Cost of material available Less: Total materials used Less: Direct materials used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Add: Total cost of work in process during the year Less: Cost of goods manufactured Add: Cost of goods available for sale Less: Cost of goods sold → + + ◆ ◆ + ♦ $ 0 0 0 0 0 0 0 0 0 0 0 $ $ 0 0 0 0 0 0 0 0 0 0 0 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Schedule of Cost of Goods Manufactured and Sold At December 31, 2019, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2019: Materials inventory, January 1 Materials inventory, December 31 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor Indirect material $25,000 15,000 30,000 41,000 51,000 36,000 150,000 148,000 Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses (total) Non-factory administrative expenses (total) 58,000 Direct material: 12,000 37,000 10,000 65,000 Beginning materials inventory Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. 21,000 62,000 Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2019 Resum Support
Transcribed Image Text:Schedule of Cost of Goods Manufactured and Sold At December 31, 2019, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2019: Materials inventory, January 1 Materials inventory, December 31 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor Indirect material $25,000 15,000 30,000 41,000 51,000 36,000 150,000 148,000 Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses (total) Non-factory administrative expenses (total) 58,000 Direct material: 12,000 37,000 10,000 65,000 Beginning materials inventory Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. 21,000 62,000 Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2019 Resum Support
Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2019 Direct material: Beginning materials inventory Cost of material available Less: Total materials used Less: Direct materials used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Add: Total cost of work in process during the year Less: Cost of goods manufactured Add: Cost of goods available for sale Less: Cost of goods sold ◆ ◆ + ♦ ◆ $ 0 0 0 0 0 0 0 boooo 0 0 $ $ 0 0 oooooo 0 0 0 0 0 0 0 0 0 0
Transcribed Image Text:Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2019, assuming that there were no other manufacturing overhead items than those listed above. Do not use negative signs with any of your answers. Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2019 Direct material: Beginning materials inventory Cost of material available Less: Total materials used Less: Direct materials used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Add: Total cost of work in process during the year Less: Cost of goods manufactured Add: Cost of goods available for sale Less: Cost of goods sold ◆ ◆ + ♦ ◆ $ 0 0 0 0 0 0 0 boooo 0 0 $ $ 0 0 oooooo 0 0 0 0 0 0 0 0 0 0
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