Respuesta :
Answer and Explanation:
The preparation of the cost of goods manufactured is presented below:
Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the month ended January 31
Opening Work In Progress Inventory $334,600
Direct Material:
Opening Material Inventory, $180,000
Add: Purchases during January $1,375,000
Cost of Materials available for use $1,555,000
Less: Ending Inventory -$145,500
Cost of Direct Materials used in Production $1,409,500
Direct Labor $2,260,000
Factory Overhead:
Indirect Labor $115,000
Machinery depreciation $90,000
Heat, Light and Power $55,000
Supplies $18,500
Property Taxes $10,000
Miscelleneous Costs 33,100
Total Factory Overhead $321,600
Total Manufacturing Cost $3,991,100
Total Manufacturing Costs $4,325,700
Less: Closing wip inventory $290,700
Cost of Goods Manufatured $4,035,000
Note
Total manufacturing costs = Starting Work in Progress + Total Manufact. Cost Incurred during Jan.
Total manufacturing costs = $334,600 + $3,991,100 = $4,325,700
Answer:
Cost of goods sold (cogs): 3,995,000
Explanation:
(Everything else above is correct, just cogs is wrong according to my hw)
Math goes as follows: 4,035,000+675,000+4,710,000-715,000=3,995,000.
675,000 is finished goods on january 1st, and 715,000 is finished goods on january 31st.
