Description
| a. | |||||||||
| Valley View Manufacturing Co. | |||||||||
| Statement of Cost of Goods Manufactured | |||||||||
| For the Month Ended January 31, 20– | |||||||||
| Materials: | |||||||||
| Inventory, January 1 | $ | ||||||||
| Purchases | |||||||||
| Total cost of available materials | $ | ||||||||
| Less inventory, January 31 | |||||||||
| Cost of materials ued | $ | ||||||||
| Less indirect materials used | |||||||||
| Cost of direct materials used in production | $ | ||||||||
| Direct labor | |||||||||
| Factory overhead: | |||||||||
| Indirect materials | $ | ||||||||
| Indirect labor | |||||||||
| Other | |||||||||
| Total factory overhead | |||||||||
| Total manufacturing cost | $ | ||||||||
| Add work in process inventory, January 1 | |||||||||
| $ | |||||||||
| Less work in process inventory, January 31 | |||||||||
| Cost of goods manufactured | $ | ||||||||
| b. | |||||||||
| Cost of goods sold: | |||||||||
| Finished goods inventory, January 1 | $ | ||||||||
| Add costs of goods manufactured | |||||||||
| Goods available for sale | $ | ||||||||
| Less finished goods inventory, January 31 | |||||||||
| Cost of goods sold | $ | ||||||||
Â
| Problem 4-6 | |||||||
| Schedule for Distribution of Service Department Costs—Direct Method | |||||||
| Bldg. | Factory | ||||||
| Description | Maint. | Office | Mixing | Blending | Finishing | Total | |
| Total from factory overhead analysis sheets | |||||||
| Allocate building maintenance | |||||||
| based on floor space: | |||||||
| Mixing | |||||||
| Blending | |||||||
| Finishing | |||||||
| Allocate factory office | |||||||
| based on number of employees: | |||||||
| Mixing | |||||||
| Blending | |||||||
| Finishing | |||||||
| Total – direct and apportioned expenses | |||||||
Â
| Exercise 6-7 | ||||
| Cost of production for month: | ||||
| Materials | ||||
| Labor | ||||
| Factory overhead | ||||
| Total cost to be accounted for | ||||
| Unit output for month: | ||||
| Finished and transferred | ||||
| Equivalent units of work in process | ||||
| Total | ||||
| Unit cost for month: | ||||
| Materials | ||||
| Labor | ||||
| Factory overhead | ||||
| Total | ||||
| Inventory costs: | ||||
| Cost of goods finished and transferred | ||||
| Cost of work in process, end of month: | ||||
| Materials | ||||
| Labor | ||||
| Factory overhead | ||||
| Total production costs accounted for |
Reviews
There are no reviews yet.