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28 Sep 2019
The following balances are from the accounts of CrabtreeMachining Company:
January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 98,500 $ 110,700 Work-in-process inventory 107,200 105,100 Finished goods inventory 43,100 46,400
Direct materials purchased during the year amount to $513,400,and the cost of goods sold for the year was $1,870,000.
Required:
Prepare a cost of goods sold statement.
CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory $107,200 Manufacturing costs: Direct materials: Beginning inventory $98,500 Purchases 513,400 Materials available $611,900 Less: Ending inventory 110,700 Direct materials used $501,200 Other manufacturing costs Total manufacturing costs 501,200 Total costs ofwork-in-process $608,400 Less: Ending work-in-process 105,100 Cost of goods manufactured $503,300 Beginning finished goods inventory 43,100 Finished goods available forsale $546,400 Less: Ending finished goods inventory 46,400 Cost of goods sold $500,000
************I HAVE FIGURED OUT EVERY NUMBER BESIDES THE OTHERMANUFACTURING COST!!!! HOW DO I FIGURE OUT THATNUMBER???????????????????? ONCE I FIGURE OUT THAT NUMBER IT WILLCHANGE THE OTHER NUMBERS, SO THE PROBLEM WILL BE CORRECT.
The following balances are from the accounts of CrabtreeMachining Company:
January 1 (Beginning) | December 31 (Ending) | |||||
Direct materials inventory | $ | 98,500 | $ | 110,700 | ||
Work-in-process inventory | 107,200 | 105,100 | ||||
Finished goods inventory | 43,100 | 46,400 | ||||
Direct materials purchased during the year amount to $513,400,and the cost of goods sold for the year was $1,870,000.
Required:
Prepare a cost of goods sold statement.
|
************I HAVE FIGURED OUT EVERY NUMBER BESIDES THE OTHERMANUFACTURING COST!!!! HOW DO I FIGURE OUT THATNUMBER???????????????????? ONCE I FIGURE OUT THAT NUMBER IT WILLCHANGE THE OTHER NUMBERS, SO THE PROBLEM WILL BE CORRECT.
Sixta KovacekLv2
28 Sep 2019