Use the information below for the year ended December, 2019 to prepare the Statement of Costs of Goods Manufactured: InventoriesBeginningEndingMaterials Inventory32,30033,900Work in Process Inventory40,50041,900Direct Materials Purchased158,300Total Direct Labor Costs231,300Total Indirect Labor Costs45,200Utilities27,100Depreciation36,200Small Tools3,100Factory Insurance1,800Factory Supervision39,500Miscellaneous Overhead Costs6,200

Raw materials: It is the basic input required to manufacture the finished products. The raw…

Answered: Use the information below for the year…

Business

Accounting

Use the information below for the year ended December, 2019 to prepare the Statement of Costs of Goods Manufactured:

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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Question

Use the information below for the year ended December, 2019 to prepare the Statement of Costs of Goods Manufactured:

Inventories
Beginning
Ending
Materials Inventory
32,300
33,900
Work in Process Inventory
40,500
41,900
Direct Materials Purchased
158,300
Total Direct Labor Costs
231,300
Total Indirect Labor Costs
45,200
Utilities
27,100
Depreciation
36,200
Small Tools
3,100
Factory Insurance
1,800
Factory Supervision
39,500
Miscellaneous Overhead Costs
6,200

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