Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: January 1 January 31 $180,000 334,600 675,000 Inventories Materials Work in process Finished goods $145,500 290,700 715,000 Direct labor Materials purchased during January Factory overhead incurred during January: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs $2,260,000 1,375,000 115,000 90,000 55,000 18,500 10,000 33,100

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Determine the costs of goods sold for January: 

Work in process inventory, January
Direct materials:
Materials inventory, January 1
Purchases
Cost of materials available for use
Less materials inventory, January 31
Cost of direct materials used
Direct labor
Factory overhead:
Indirect labor
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
Total factory overhead
Total manufacturing costs incurred during January
Total manufacturing costs
Less work in process inventory, January 31
Cost of goods manufactured
$
QO0000
Transcribed Image Text:Work in process inventory, January Direct materials: Materials inventory, January 1 Purchases Cost of materials available for use Less materials inventory, January 31 Cost of direct materials used Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs Less work in process inventory, January 31 Cost of goods manufactured $ QO0000
Statement of Cost of Goods Manufactured for a Manufacturing Company
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows:
Inventories
Materials
Work in process
Finished goods
January 1 January 31
$180,000
$145,500
334,600
290,700
675,000
715,000
Direct labor
Materials purchased during January
Factory overhead incurred during January:
Indirect labor
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
$2,260,000
1,375,000
115,000
90,000
55,000
18,500
10,000
33,100
Transcribed Image Text:Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories Materials Work in process Finished goods January 1 January 31 $180,000 $145,500 334,600 290,700 675,000 715,000 Direct labor Materials purchased during January Factory overhead incurred during January: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs $2,260,000 1,375,000 115,000 90,000 55,000 18,500 10,000 33,100
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