Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company: Administrative salaries (non-factory) $255,000 Administrative rent (non-factory) 141,000 Advertising and promotion expense 279,000 Depreciation-administrative 231,000 Depreciation-factory Depreciation-selling 285,000 108,000 Direct labor 975,000 Factory rent 204,000 Factory supplies used 69,000 Finished goods inventory (January 1) 183,000 Finished goods inventory (December 31) 189,000 Indirect material used 81,000 Indirect labor 132,000 Materials inventory (January 1) 66,000 Materials inventory (December 31) 90,000 Net delivered cost of materials purchased 630,000 Other factory overhead 165,000 Sales 2,814,000 Sales salaries expense 213,000 Work in process inventory (January 1) 99,000 Work in process inventory (December 31) 87,000 Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers.

Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company: Administrative salaries (non-factory) $255,000 Administrative rent (non-factory) 141,000 Advertising and promotion expense 279,000 Depreciation-administrative 231,000 Depreciation-factory Depreciation-selling 285,000 108,000 Direct labor 975,000 Factory rent 204,000 Factory supplies used 69,000 Finished goods inventory (January 1) 183,000 Finished goods inventory (December 31) 189,000 Indirect material used 81,000 Indirect labor 132,000 Materials inventory (January 1) 66,000 Materials inventory (December 31) 90,000 Net delivered cost of materials purchased 630,000 Other factory overhead 165,000 Sales 2,814,000 Sales salaries expense 213,000 Work in process inventory (January 1) 99,000 Work in process inventory (December 31) 87,000 Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers.

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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