Preparing a statement of cost of goods manufactured
Knight, Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2012:
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Inventories:
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Beginning
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Ending
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Materials
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$ 56,000
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$ 23,000
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Work in process
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103,000
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63,000
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Finished goods
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41,000
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48,000
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Other information:
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Depreciation: plant building and equipment
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$ 16,000
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Repairs and maintenance-plant
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$ 8,000
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Materials purchases
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159,000
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Indirect labor
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32,000
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Insurance on plant
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22,000
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Direct labor
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122,000
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Sales salaries expense
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46,000
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Administrative expenses
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59,000
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Requirements
1. Prepare a schedule of cost of goods manufactured.
2. What is the unit product cost if Knight manufactured 2,160 lamps for the year?