Question:
Calculate Cost of Goods Manufactured and prepare a schedule to support your calculations based upon the following information for Example Manufacturing, Inc. for January 2014.
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Depreciation on delivery (to customers) truck
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$ 2,500
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Depreciation on factory equipment
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9,600
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Direct labor used
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58,000
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Direct materials used
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46,000
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Factory maintenance
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5,800
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Finished goods balance, January 1
|
1,600
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Finished goods balance, January 31
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1,500
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Wages for factory night security
|
4,300
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Presidents salary
|
8,000
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Rent on the factory building
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1,200
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Sales commissions
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3,200
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Utilities for factory activities
|
450
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Work in Process balance January 1
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5,000
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Work in Process balance January 31
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5,400
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Factory supervisor's salary for January 2014
|
6,000
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Advertising expense for January 2014
|
1,000
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Change Work in Process balance January 31
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7,000
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