Problem 3 (10 Sapir Manufacturing Company has the following data at June 30, 2012: Instructions Inventories: June 30 Raw materials inventory $25,000 June 1 $30,000 Work in process inventory 84,000 75,000 Finished goods inventory 23,000 20,000 Other information for June: Total manufacturing costs Manufacturing overhead Direct labour incurred Sales $754,000 72,000 342,000 990,000 25 29,000+754,000-20,0 749000 a. Prepare a schedule of cost of goods manufactured for the month (754,000+71000341,000) 1168,000 (990,000+15,000+ 84,000+23,000) 112,000 1,168,000-472,000 estor goods manufactured- 46000 b. Calculate the COGS (3 754709 744000 ,000 759,000+342,000 72,000+75,000-890 COGM-1,164,000 20,000+1,164,000-7

Problem 3 (10 Sapir Manufacturing Company has the following data at June 30, 2012: Instructions Inventories: June 30 Raw materials inventory $25,000 June 1 $30,000 Work in process inventory 84,000 75,000 Finished goods inventory 23,000 20,000 Other information for June: Total manufacturing costs Manufacturing overhead Direct labour incurred Sales $754,000 72,000 342,000 990,000 25 29,000+754,000-20,0 749000 a. Prepare a schedule of cost of goods manufactured for the month (754,000+71000341,000) 1168,000 (990,000+15,000+ 84,000+23,000) 112,000 1,168,000-472,000 estor goods manufactured- 46000 b. Calculate the COGS (3 754709 744000 ,000 759,000+342,000 72,000+75,000-890 COGM-1,164,000 20,000+1,164,000-7

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Problem 3 (10 marks) Sapir Manufacturing Company has the following data at June 30, 2012: Inventories: Raw materials inventory June 30 $25,000 June 1 $30,000 Work in process inventory Finished goods inventory 84,000 75,000 23,000 20,000 Other information for June: Total manufacturing costs Manufacturing overhead Direct labour incurred Sales $754,000 72,000 342,000 990,000 Instructions a. Prepare a schedule of cost of goods manufactured for the month (7 marks) (754,000+71,000/341,000) 1168,000 (990,000+25,000+ 84,000+23,000) 25 29,000+754,000-20,0 744000 1,127,000 1,168,000-472,000 754709 ,000 759,000+342,000 72,000+75,000-890 COGM-1164,000 Lost or goods manufactured- 46000 b. Calculate the COGS (3 marks) 20,000+1,164,000-7 SE
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