P ROBLEM 1 Jones Corporation has the following cost records for May 2009 Indirec
ID: 2502991 • Letter: P
Question
PROBLEM 1
Jones Corporation has the following cost records for May 2009
Indirect factory labor
$ 7,000
Advertising Expense
$ 8,000
Direct materials used
10,000
Depreciation, factory equipment
3,200
Work in process, 5/1/09
4,000
Direct labor
13,000
Work in process, 5/31/09
5,800
Maintenance, factory equipment
1,000
Factory supervisor
PROBLEM 1
Jones Corporation has the following cost records for May 2009
Indirect factory labor
$ 7,000
Advertising Expense
$ 8,000
Direct materials used
10,000
Depreciation, factory equipment
3,200
Work in process, 5/1/09
4,000
Direct labor
13,000
Work in process, 5/31/09
5,800
Maintenance, factory equipment
1,000
Factory supervisor
Explanation / Answer
Hi,
Please find the detailed answer as follows;
Cost of Goods Manufactured
Schedule For the Year Ended May 31, 2009
Direct Materials Used
10000 Direct Labor
13000 Manufacturing Overheads
Indirect Factory Labor 7000
Factory Supervisor