Thursday, 10 April 2014

Weisinger Corporation has provided the following data for the month of January:



Problem 2-141 [LO6]
Weisinger Corporation has provided the following data for the month of January:
 
  Inventories:
Beginning
Ending
  Raw materials
$
26,900   
$
29,800  
  Work in process
$
17,900   
$
13,900  
  Finished goods
$
41,300   
$
54,900  

 
Additional information:




  Raw materials purchases
$
56,500  
  Direct labor cost
$
88,800  
  Manufacturing overhead cost incurred
$
51,400  
  Indirect materials included in manufacturing overhead cost incurred
$
3,900  
  Manufacturing overhead cost applied to Work in Process
$
55,000  

 
Required:
a.
Prepare a Schedule of Cost of Goods Manufactured in good form. (Input all amounts as positive values. Omit the "$" sign in your response.)
 

Weisinger Corporation
Schedule of Cost of Goods Manufactured

  Direct materials:



  Beginning materials inventory
$  


  Add: Purchases of raw materials







  Raw materials available for use



  Deduct: Ending raw materials inventory



  



  Raw materials used in production



  Deduct: Indirect materials

  $  





  Direct labor



  Manufacturing overhead applied to Work in Process







  Total manufacturing costs



  Add: Beginning work in process inventory











  Deduct: Ending work in process inventory







  Cost of goods manufactured

$  




b.
Prepare a Schedule of Cost of Goods Sold in good form. (Input all amounts as positive values. Omit the "$" sign in your response.)







 
Weisinger Corporation
Schedule of Cost of Goods Sold
  Beginning finished goods inventory
$  
  Add: Cost of goods manufactured



  Goods available for sale

  Deduct: Ending finished goods inventory



  Unadjusted cost of goods sold

  Deduct: Overapplied overhead
  


  Adjusted cost of goods sold
$