Efficient Manufacturing LLC had the following account balances for the quarter ending Dec 31st 2011, unless otherwise noted:
|
Work-in-process inventory (1st Oct, 2011)
|
28,080
|
|
Work-in-process inventory (31st Dec, 2011)
|
34,200
|
|
Finished goods inventory (1st Oct, 2011)
|
108,000
|
|
Finished goods inventory (31st Dec, 2011)
|
102,000
|
|
Direct materials used
|
75,600
|
|
Indirect materials used
|
16,800
|
|
Direct manufacturing labor
|
96,000
|
|
Indirect manufacturing labor
|
37,200
|
|
Property taxes
|
5,760
|
|
Salespersons' company vehicle costs
|
2,400
|
|
Depreciation of manufacturing equipment
|
52,800
|
|
Depreciation of office equipment
|
24,720
|
|
Miscellaneous plant overhead
|
27,000
|
|
Plant utilities
|
18,480
|
|
General office expenses
|
61,080
|
|
Marketing distribution costs
|
6,000
|
Required:
a. Prepare a cost of goods manufactured schedule for the quarter.
b. Prepare a cost of goods sold schedule for the quarter.