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Products Ltd Schedule of Cost of Goods Manufactured For the year ended xxxx Direct materials: Raw materials inventory, beginning................ $ ______ Add: Purchases of raw materials .................... ______ Raw materials available for use ...................... ______ Deduct: Raw materials inventory, ending........ ______ Raw materials used in production................... $ ______ Direct labour.................................................... ______ Manufacturing overhead: Depreciation, factory ..................................... ______ Insurance, factory ......................................... ______ Maintenance, factory ..................................... ______ Utilities, factory............................................. ______ Supplies, factory ........................................... ______ Indirect labour .............................................. ______ Total overhead costs........................................ ______ Total manufacturing costs ................................ ______ Add: Work in process inventory, beginning........ ______ ______ Deduct: Work in process inventory, ending........ ______ Cost of goods manufactured............................. $

Products Ltd Schedule of Cost of Goods Manufactured For the year ended xxxx Direct materials: Raw materials inventory, beginning................ $ ______ Add: Purchases of raw materials .................... ______ Raw materials available for use ...................... ______ Deduct: Raw materials inventory, ending........ ______ Raw materials used in production................... $ ______ Direct labour.................................................... ______ Manufacturing overhead: Depreciation, factory ..................................... ______ Insurance, factory ......................................... ______ Maintenance, factory ..................................... ______ Utilities, factory............................................. ______ Supplies, factory ........................................... ______ Indirect labour .............................................. ______ Total overhead costs........................................ ______ Total manufacturing costs ................................ ______ Add: Work in process inventory, beginning........ ______ ______ Deduct: Work in process inventory, ending........ ______ Cost of goods manufactured............................. $

FINANCIAL ACCOUNTING
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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Precious Products Ltd
Schedule of Cost of Goods Manufactured
For the year ended xxxx
Direct materials:
Raw materials inventory, beginning................ $ ______
Add: Purchases of raw materials .................... ______
Raw materials available for use ...................... ______
Deduct: Raw materials inventory, ending........ ______
Raw materials used in production................... $ ______
Direct labour.................................................... ______
Manufacturing overhead:
Depreciation, factory ..................................... ______
Insurance, factory ......................................... ______
Maintenance, factory ..................................... ______
Utilities, factory............................................. ______
Supplies, factory ........................................... ______
Indirect labour .............................................. ______
Total overhead costs........................................ ______
Total manufacturing costs ................................ ______
Add: Work in process inventory, beginning........ ______
______
Deduct: Work in process inventory, ending........ ______
Cost of goods manufactured............................. $

Precious Products Ltd Schedule of Cost of Goods Manufactured For the year ended xxxx Direct materials: Raw materials inventory, beginning. Add: Purchases of raw materials Raw materials available for use... Deduct: Raw materials inventory, ending. Raw materials used in production... Direct labour.. . $ Manufacturing overhead: Depreciation, factory Insurance, factory. Maintenance, factory . Utilities, factory... Supplies, factory Indirect labour ... Total overhead costs Total manufacturing costs .. Add: Work in process inventory, beginning... Deduct: Work in process inventory, ending.... Cost of goods manufactured. $4
Transcribed Image Text:Precious Products Ltd Schedule of Cost of Goods Manufactured For the year ended xxxx Direct materials: Raw materials inventory, beginning. Add: Purchases of raw materials Raw materials available for use... Deduct: Raw materials inventory, ending. Raw materials used in production... Direct labour.. . $ Manufacturing overhead: Depreciation, factory Insurance, factory. Maintenance, factory . Utilities, factory... Supplies, factory Indirect labour ... Total overhead costs Total manufacturing costs .. Add: Work in process inventory, beginning... Deduct: Work in process inventory, ending.... Cost of goods manufactured. $4
The following information pertains to the most recent quarter at Precious Production Limited. Purchases of raw materials $ 360,000 Raw materials inventory, beginning 40,000 Raw materials inventory, ending 68,000 Depreciation, factory 168,000 Insurance, factory 20,000 Direct labour 240,000 Maintenance, factory 120,000 Administrative expenses 280,000 Sales 1,800,000 Utilities, factory 108,000 Supplies, factory 4,000 Selling expenses 320,000 Indirect labour 260,000 Work in process inventory, beginning 28,000 Work in process inventory, ending 120,000 Finished goods inventory, beginning 40,000 Finished goods inventory, ending 160,000
Transcribed Image Text:The following information pertains to the most recent quarter at Precious Production Limited. Purchases of raw materials $ 360,000 Raw materials inventory, beginning 40,000 Raw materials inventory, ending 68,000 Depreciation, factory 168,000 Insurance, factory 20,000 Direct labour 240,000 Maintenance, factory 120,000 Administrative expenses 280,000 Sales 1,800,000 Utilities, factory 108,000 Supplies, factory 4,000 Selling expenses 320,000 Indirect labour 260,000 Work in process inventory, beginning 28,000 Work in process inventory, ending 120,000 Finished goods inventory, beginning 40,000 Finished goods inventory, ending 160,000
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