The following data from the just completed year are taken from the accounting records of Eccles Company:
| |
|
|
| Sales |
$ |
643,000 |
| Direct labor cost |
$ |
90,000 |
| Raw material purchases |
$ |
132,000 |
| Selling expenses |
$ |
100,000 |
| Administrative expenses |
$ |
43,000 |
| Manufacturing overhead applied to work in process |
$ |
210,000 |
| Actual manufacturing overhead costs |
$ |
220,000 |
|
| Inventories: |
Beginning
of Year |
End of
Year |
| Raw materials |
$ |
8,000 |
$ |
10,000 |
| Work in process |
$ |
5,000 |
$ |
20,000 |
| Finished goods |
$ |
70,000 |
$ |
25,000 |
|
| 1. |
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
|