The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost. Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories: Raw materials Work in process Finished goods Direct materials: Raw materials used in production Total manufacturing cost Beginning of Year $9,800 6,800 71,800 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. End of Year $11,800 21,800 26,800 ECCLES COMPANY Schedule of Cost of Goods Manufactured Cost of goods manufactured $ 769,000 108,000 150,000 118,000 61,000 228,000 256,000 0 $ 0 0 0 0

The following data from the just-completed year are taken from the accounting records of Eccles Company: Sales Direct labour cost. Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories: Raw materials Work in process Finished goods Direct materials: Raw materials used in production Total manufacturing cost Beginning of Year $9,800 6,800 71,800 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. End of Year $11,800 21,800 26,800 ECCLES COMPANY Schedule of Cost of Goods Manufactured Cost of goods manufactured $ 769,000 108,000 150,000 118,000 61,000 228,000 256,000 0 $ 0 0 0 0

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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