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