Cost data for Sandusky Manufacturing Company for the month ended January 31 are
ID: 2813626 • Letter: C
Question
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: January 31 Inventories Materials Work in process Finished goods January 1 $306,000 214,600 3,400 $277,800 240,000 187 300 16 Direct labor Materials purchased during the mont Factory overhead incurred during the month January 31 $560,000 604,000 indirect tabor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs 60,500 34,000 13,700 8.440 8,000 16,300 Required: a Prepare a cost of goods manufactured statement for January Reter to the Amount Descrptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus b. Determine the cost of.g22ds soid for JanuaryExplanation / Answer
Requirement A. Cost of goods manufactured statement
Cost of goods manufactured statement
Work in process inventory, January 1
2,14,600
Direct materials:
Materials inventory, January 1
3,06,000
Purchases
6,04,000
Cost of materials available for use
9,10,000
Less materials inventory, January 31
2,77,800
Cost of direct materials used
6,32,200
Direct labor
5,60,000
Factory overhead:
Indirect labor
60,500
Machinery depreciation
34,000
Heat, light and power
13,700
Supplies
8,440
Property taxes
8,000
Miscellaneous costs
16,300
Total factory overhead
1,40,940
Total manufacturing costs incurred
13,33,140
Total manufacturing costs
15,47,740
Less work in process inventory, January 31
2,40,000
Cost of goods manufactured
13,07,740
Requirement B. Cost of goods sold
Finished goods inventory, January 1
1,63,400
Add : Cost of goods manufactured
13,07,740
Less finished goods inventory, January 31
1,87,300
Cost of goods sold
12,83,840
Cost of goods manufactured statement
Work in process inventory, January 1
2,14,600
Direct materials:
Materials inventory, January 1
3,06,000
Purchases
6,04,000
Cost of materials available for use
9,10,000
Less materials inventory, January 31
2,77,800
Cost of direct materials used
6,32,200
Direct labor
5,60,000
Factory overhead:
Indirect labor
60,500
Machinery depreciation
34,000
Heat, light and power
13,700
Supplies
8,440
Property taxes
8,000
Miscellaneous costs
16,300
Total factory overhead
1,40,940
Total manufacturing costs incurred
13,33,140
Total manufacturing costs
15,47,740
Less work in process inventory, January 31
2,40,000
Cost of goods manufactured
13,07,740