Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company:
Administrative salaries (non-factory) $105,000
Administrative rent (non-factory) 52,500
Advertising and promotion expense 61,500
Depreciation-administrative 33,000
Depreciation-factory 45,000
Depreciation-selling 25,500
Direct labor 262,500
Factory rent 27,000
Factory supplies used 18,000
Finished goods inventory (January 1) 85,500
Finished goods inventory (December 31) 78,000
Indirect material used 21,000
Indirect labor 28,500
Materials inventory (January 1) 19,500
Materials inventory (December 31) 30,000
Net delivered cost of materials purchased 207,000
Other factory overhead 39,000
Sales 1,267,500
Sales salaries expense 108,000
Work in process inventory (January 1) 27,000
Work in process inventory ( December 31) 46,500
Using the above data, prepare a schedule of cost of goods manufactured and sold.
Do not use negative signs with any of your answers.
Bourne Manufacturing Company
Schedule of Cost of Goods Manufactured and Sold
For the Year Ended December 31,2016
Direct material:
Beginning materials inventory Answer
Answer Answer
Cost of material available Answer
Less: Answer Answer
Total materials used Answer
Less: Answer Answer
Direct material used Answer
Direct labor Answer
Manufacturing overhead
Indirect material Answer
Indirect labor Answer
Factory supplies used Answer
Factory depreciation Answer
Factory rent Answer
Answer Answer
Total manufacturing overhead Answer
Total manufacturing costs for the year Answer
Add: Answer Answer
Total cost of work in process during the year Answer
Less: Answer Answer
Cost of goods manufactured Answer
Add: Answer Answer
Cost of goods available for sale Answer
Less: Answer Answer
Cost of goods sold Answer