QS 4-16: Use the following information to compute the cost of direct materials used for the current year. Note: Assume all raw materials were used as direct materials. Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Raw materials purchased Direct labor Factory overhead MY QUESTION: Beginning of Year $ 6,000 12,000 8,000 End of Year $7,000 9,000 5,000 1. Compute total manufacturing costs. 2. Prepare a schedule of cost of goods manufactured. $123,000 94,000 39,000 . Factory overhead of $39,000 consists of Indirect labor of $20,000, Depreciation expense-Factory of $15,000, and Factory utilities of $4,000.
QS 4-16: Use the following information to compute the cost of direct materials used for the current year. Note: Assume all raw materials were used as direct materials. Inventories Raw materials inventory Work in process inventory Finished goods inventory Activity during current year Raw materials purchased Direct labor Factory overhead MY QUESTION: Beginning of Year $ 6,000 12,000 8,000 End of Year $7,000 9,000 5,000 1. Compute total manufacturing costs. 2. Prepare a schedule of cost of goods manufactured. $123,000 94,000 39,000 . Factory overhead of $39,000 consists of Indirect labor of $20,000, Depreciation expense-Factory of $15,000, and Factory utilities of $4,000.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:QS 4-16:
Use the following information to compute the cost of direct materials used for the current year. Note: Assume all raw
materials were used as direct materials.
Inventories
Raw materials inventory
Work in process inventory
Finished goods inventory
Activity during current year
Raw materials purchased
Direct labor
Factory overhead
MY QUESTION:
Beginning of Year
$ 6,000
12,000
8,000
End of Year
$7,000
9,000
5,000
1. Compute total manufacturing costs.
2. Prepare a schedule of cost of goods manufactured.
$123,000
94,000
39,000
. Factory overhead of $39,000 consists of Indirect labor of $20,000, Depreciation
expense-Factory of $15,000, and Factory utilities of $4,000.
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