Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has su
ID: 2605685 • Letter: C
Question
Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost Purchases of direct materials Freight-in on materials Factory supplies used Factory utilities Commissions paid Factory supervision and indirect labor Advertising Materials handling Work-in-process inventory, January 1 Work-in-process inventory, December 31 Direct materials inventory, January 1 Direct materials inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Required: $495,900 378,890 7,500 18,500 54,000 78,983 165,000 145,600 16,900 201,000 117,400 37,200 34,600 59,200 62,700 Check My WorkExplanation / Answer
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Statement of cost of goods manufactured Direct material Direct material inventory jan 1 37200 Purchase of direct material 378890 Freight in on material 7500 material available for use 423590 less:Direct material inventory december31 (34600) Direct material used in production 388990 Direct labor cost 495900 manufacturing overhead Factory supplies used 18500 Factory utilities 54000 Factory supervision and indirect labor 165000 material handling 16900 Total overhead cost 254400 Total manufacturing cost added 1139290 work in process ,jan 1 201000 work in process december 31 (117400) cost of goods manufactured 1222890