Question - Ashley Corporation provided the following list of cost data related to its manufacturing operations for the month of September 20X4.
Beginning raw materials inventory
|
$ 966,400
|
Raw materials purchased (net)
|
2,345,500
|
Ending raw materials inventory
|
818,200
|
Direct labor costs
|
322,300
|
Indirect materials
|
125,500
|
Indirect labor
|
88,900
|
Factory utilities and maintenance
|
456,000
|
Factory depreciation
|
56,600
|
Other factory related overhead
|
24,400
|
Beginning work in process
|
777,000
|
Ending work in process
|
717,000
|
(a) Arrange the cost data into a statement of cost of goods manufactured.
(b) If Ashley's cost of goods sold for the month was $4,000,000, how much was the increase or decrease in finished goods inventory for the month of September?