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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
Ferrell, Inc. used $213,000 of direct materials and incurred $111,000 of direct labor costs during the year. Indirect labor amounted to $8,100, while indirect materials used totaled $4,800. Other operating costs pertaining to the factory included utilities of $9,300; maintenance of $13,500; repairs of $5,400; depreciation of $23,700; and property taxes of $7,800. There was no beginning or ending finished goods inventory. The Work-in-Process Inventory account reflected a balance of $16,500 at the beginning of the period and $22,500 at the end of the period.

Required: Prepare a schedule of cost of goods manufactured for Ferrell, Inc. using the format below.

Cost of Goods Manufactured
Beginning Work-in-Process Inventory         
Direct Materials Used         
Direct Labor         
Manufacturing Overhead:         
   Indirect Labor Used         
   Indirect Materials         
   Utilities         
   Maintenance         
   Repairs         
   Depreciation         
   Property Taxes         
Total Manufacturing Overhead         
Total Manufacturing Costs Incurred during the Year         
Total Manufacturing Costs to Account For         
Ending Work-in-Process Inventory         
Cost of Goods Manufactured
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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8 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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#3
7 years ago
Excellent Slight Smile
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