An analysis of the accounts of Payson Manufacturing reveals the An analysis of the accounts of…

An analysis of the accounts of Payson Manufacturing reveals the
An analysis of the accounts of Payson Manufacturing reveals the following data for the month ended April 30, 201X:

Inventories…………… Beginning………….. Ending

Raw materials …………….$22,000…………. $23,000

Work-in-process ……………16,500………….. 22,000

Finished goods ……………..17,000………….. 16,000

Costs Incurred: Raw materials purchased, $120,000; direct labor, $133,000; manufacturing overhead, $49,700. These specific overheads included indirect labor, $19,700; factory insurance, $8,200; depreciation on machinery, $9,500; machinery repairs, $4,000; factory utilities, $5,500; and miscellaneous factory costs, $2,800.

Instructions:

Prepare a cost of goods manufactured statement.

An analysis of the accounts of Payson Manufacturing reveals the