Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $191,250 $162,560 Work in process 128,140 108,920 Finished goods 97,540 108,920 Direct labor $344,250 Materials purchased during January 367,200 Factory overhead incurred during January: Indirect labor 36,720 Machinery depreciation 22,190 Heat, light, and power 7,650 Supplies 6,120 Property taxes 5,360 Miscellaneous costs 9,950 a. Prepare a cost of goods manufactured statement for January. Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 $ Direct materials: $ $ $ Factory overhead: $ Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs $ Cost of goods manufactured $ b. Determine the cost of goods sold for January.$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories	January 1	January 31
Materials	$191,250		$162,560
Work in process	128,140		108,920
Finished goods	97,540		108,920

Direct labor	$344,250
Materials purchased during January	367,200
Factory overhead incurred during January:
	Indirect labor	36,720
	Machinery depreciation	22,190
	Heat, light, and power	7,650
	Supplies	6,120
	Property taxes	5,360
	Miscellaneous costs	9,950

a. Prepare a cost of goods manufactured statement for January.

Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended January 31
			$
Direct materials:
	$

	$

		$

Factory overhead:
	$





Total factory overhead
Total manufacturing costs incurred during January
Total manufacturing costs			$

Cost of goods manufactured			$

b. Determine the cost of goods sold for January.
$

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