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Homework answers / question archive / An incomplete cost of goods manufactured schedule is presented below

An incomplete cost of goods manufactured schedule is presented below

Accounting

An incomplete cost of goods manufactured schedule is presented below.

Complete the cost of goods manufactured schedule for Hobbit Company.

 
HOBBIT COMPANY
Cost of Goods Manufactured Schedule
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Work in process (1/1)           $219,710
Direct materials            
   Raw materials inventory (1/1)   $
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   Add: Raw materials purchases   164,750        
   Total raw materials available for use  
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   Less: Raw materials inventory (12/31)   23,370        
Direct materials used       $183,360    
Direct labor      
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Manufacturing overhead            
   Indirect labor   25,340        
   Factory depreciation   40,850        
   Factory utilities   74,250        
   Total overhead       140,440    
Total manufacturing costs          
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Total cost of work in process          
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Less: Work in process (12/31)           88,650
Cost of goods manufactured           $544,610
 

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