Bledsoe Corporation has provided the following data for the month of November Ra

Question

Bledsoe Corporation has provided the following data for the month of November Rav materiala Hork in process Pinished Goods 26,900 $22,900 18,900 $11,900 49,900 $57,900 Raw materials purchases Direct labor cost Kanufacturing overhead coet incurred Indirect materials included in manufacturing overhead cost incurred Kanufacturing overhead cost applied to Work in Process $73,900 93,900 44,090 4,190 42,900 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold Complete this question by entering your answers in the table below Schedule of Schedule of COGM COGS Prepare a Schedule of Cost of Goods Manufactured. Bi DSOE CORPORATION Schedule of Cost of Goods Direct materials Raw materials available for use Raw materials used in production

Explanation / Answer

Schedule of Cost of Goods Manufactured Direct materials: Beginning materials inventory 26900 Add: Purchases of raw materials 73900 Raw materials available for use 100800 Deduct: Ending raw materials inventory 22900 Raw materials used in production 77900 Less indirect materials included in manufacturing overhead incurred 4190 73710 Direct labor 93900 Manufacturing overhead applied to Work in Process 42900 Total manufacturing costs 210510 Add: Beginning work in process inventory 18900 229410 Deduct: Ending work in process inventory 11900 Cost of goods manufactured 217510 2 Schedule of Cost of Goods Sold Beginning finished goods inventory 49900 Add: Cost of goods manufactured 217510 Goods available for sale 267410 Deduct: Ending finished goods inventory 57900 Unadjusted cost of goods sold 209510 Add: Underapplied overhead 1190 =44090-42900 Adjusted cost of goods sold 210700

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