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The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for September $39,100 Estimated inventory, September 1 Desired inventory, September 30 Direct labor cost: Total direct labor cost budgeted for September Finished goods inventories: Estimated inventory, September 1 Desired inventory, September 30 Work in process inventories: Estimated inventory, September 1 Desired inventory, September 30 Budgeted factory overhead costs for September: Indirect factory wages Depreciation of plant and equipment. Power and light Indirect materials Total 2,300 2,790 Kiln Department $48,330 Dish $6,170 3,950 $3,760 2,100 $74,600 14,350 5,800 3,180 97,930 Decorating Department $140,160 Bowl $8,210 5,520 2,540 Total $188,490 Figurine Total $3,520 4,870 $152,490 $199,800 9,200 6,700 $2,900 4,630 17,020 12,030 $12,590 13,450

The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Enamel Paint Porcelain Total Total direct materials purchases budgeted for September $39,100 Estimated inventory, September 1 Desired inventory, September 30 Direct labor cost: Total direct labor cost budgeted for September Finished goods inventories: Estimated inventory, September 1 Desired inventory, September 30 Work in process inventories: Estimated inventory, September 1 Desired inventory, September 30 Budgeted factory overhead costs for September: Indirect factory wages Depreciation of plant and equipment. Power and light Indirect materials Total 2,300 2,790 Kiln Department $48,330 Dish $6,170 3,950 $3,760 2,100 $74,600 14,350 5,800 3,180 97,930 Decorating Department $140,160 Bowl $8,210 5,520 2,540 Total $188,490 Figurine Total $3,520 4,870 $152,490 $199,800 9,200 6,700 $2,900 4,630 17,020 12,030 $12,590 13,450

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 16E: Cost of production report The debits to Work in ProcessRoasting Department for Morning Brew Coffee...
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The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Paint Porcelain Total Total direct materials purchases budgeted for September Estimated inventory, September 12,300 Desired inventory, September 30 2,790 Direct labor cost: Total direct labor cost budgeted for September Finished goods inventories: Estimated inventory, September 1 Desired inventory, September 30 Work in process inventories: Estimated inventory, September 1 Desired inventory, September 30 Budgeted factory overhead costs for September: Indirect factory wages Depreciation of plant and equipment Power and light Indirect materials Total Enamel $39,100 Kiln Department $48,330 Dish $6,170 3,950 $3,760 2,100 $74,600 14,350 5,800 3,180 97,930 Decorating Department $140,160 Bowl $8,210 5,520 2,540 Total $188,490 Figurine Total $3,520 4,870 $152,490 9,200 6,700 $2,900 4,630 $199,800 17,020 12,030 $12,590 13,450
Transcribed Image Text:The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Direct materials: Paint Porcelain Total Total direct materials purchases budgeted for September Estimated inventory, September 12,300 Desired inventory, September 30 2,790 Direct labor cost: Total direct labor cost budgeted for September Finished goods inventories: Estimated inventory, September 1 Desired inventory, September 30 Work in process inventories: Estimated inventory, September 1 Desired inventory, September 30 Budgeted factory overhead costs for September: Indirect factory wages Depreciation of plant and equipment Power and light Indirect materials Total Enamel $39,100 Kiln Department $48,330 Dish $6,170 3,950 $3,760 2,100 $74,600 14,350 5,800 3,180 97,930 Decorating Department $140,160 Bowl $8,210 5,520 2,540 Total $188,490 Figurine Total $3,520 4,870 $152,490 9,200 6,700 $2,900 4,630 $199,800 17,020 12,030 $12,590 13,450
Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Cost of direct materials available for useDirect laborFactory overhead Finished goods inventory, September 1Total work in process during period Cost of direct materials available for useDirect laborFactory overhead Total work in process during periodWork in process inventory, September 1 Direct materials: Cost of direct materials available for useDirect laborDirect materials inventory, September 1Direct materials inventory, September 30Total work in process during period Cost of direct materials available for useDirect laborDirect materials purchasesFinished goods inventory, September 30Total work in process during period Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total manufacturing costs Cost of goods manufactured Direct materials inventory, September 30Factory overheadFinished goods inventory, September 1Total work in process during period Cost of direct materials placed in production Cost of goods soldFactory overhead Finished goods inventory, September 1Finished goods inventory, September 30 Direct labor Direct materials inventory, September 1Direct materials inventory, September 30Factory overhead Total work in process during periodWork in process inventory, September 30 Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total manufacturing costs Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total work in process during the period Work in process inventory, September 30 Cost of direct materials available for useCost of finished goods available for saleCost of goods manufacturedCost of goods sold Total work in process during the period Cost of direct materials available for useCost of finished goods available for saleCost of goods sold Total work in process during the periodWork in process inventory, September 1 Direct laborDirect materials inventory, September 30Factory overheadFinished goods inventory, September 30Work in process inventory, September 30 Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total work in process during the period $- Select - - Select - $- Select - - Select - $- Select - fill in the blank 15 - Select - $- Select - - Select - $- Select - fill in the blank 22 $- Select - - Select $- Select - - Select $- Select -
Transcribed Image Text:Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Cost of direct materials available for useDirect laborFactory overhead Finished goods inventory, September 1Total work in process during period Cost of direct materials available for useDirect laborFactory overhead Total work in process during periodWork in process inventory, September 1 Direct materials: Cost of direct materials available for useDirect laborDirect materials inventory, September 1Direct materials inventory, September 30Total work in process during period Cost of direct materials available for useDirect laborDirect materials purchasesFinished goods inventory, September 30Total work in process during period Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total manufacturing costs Cost of goods manufactured Direct materials inventory, September 30Factory overheadFinished goods inventory, September 1Total work in process during period Cost of direct materials placed in production Cost of goods soldFactory overhead Finished goods inventory, September 1Finished goods inventory, September 30 Direct labor Direct materials inventory, September 1Direct materials inventory, September 30Factory overhead Total work in process during periodWork in process inventory, September 30 Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total manufacturing costs Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total work in process during the period Work in process inventory, September 30 Cost of direct materials available for useCost of finished goods available for saleCost of goods manufacturedCost of goods sold Total work in process during the period Cost of direct materials available for useCost of finished goods available for saleCost of goods sold Total work in process during the periodWork in process inventory, September 1 Direct laborDirect materials inventory, September 30Factory overheadFinished goods inventory, September 30Work in process inventory, September 30 Cost of direct materials available for useCost of finished goods available for saleCost of goods manufactured Cost of goods sold Total work in process during the period $- Select - - Select - $- Select - - Select - $- Select - fill in the blank 15 - Select - $- Select - - Select - $- Select - fill in the blank 22 $- Select - - Select $- Select - - Select $- Select -
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