Manufacturing Consultants Inc Statement of Cost of Goods Sold

Statement of Cost of Goods Sold. The accountant of the Manufacturing Consultants Inc. has submitted the following summary to the executive management:

Inventories at September 1,20XX

Raw materials                                                 $36,000
Work in process                                              1 5,000
Fuel                                                                   3,400
Factory repair parts                                           2,600
Finished goods                                                 12,000       $ 69,000

Raw materials purchases                                $58,000
Fuel purchases                                                  5,200
Direct labor                                                     83,100
Miscellaneous factory overhead                         2,300
Repairs to factory (including purchase of parts)  4,200
Depreciation of plant                                         2,700
Superintendence                                                2,200
Transportation out                                             1,100
Purchases discounts lost                                       800
Indirect factory labor                                           2,000         161,600
Total costs $230,600
Inventories at September 30, 20XX
Raw materials                                               $40,000
Work in process                                             12,000
Fuel                                                                 2,000
Factory repair parts                                         2,800
Finished goods                                              14,000               70,800
Total                                                                                    $159,800

Required: The management of Manufacturing Consultants Inc returns the summary with the request for a statement showing cost of goods sold in proper form.
Share This
Previous Post
Next Post