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Question: statement of cost of goods manufactured for a manufacturing company...

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Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:

Inventories January 1 January 31
Materials $196,000 $176,400
Work in process 135,240 121,720
Finished goods 99,960 118,190
Direct labor $352,800
Materials purchased during January 376,320
Factory overhead incurred during January:
Indirect labor 37,630
Machinery depreciation 22,740
Heat, light, and power 7,840
Supplies 6,270
Property taxes 5,490
Miscellaneous costs 10,190

a. Prepare a cost of goods manufactured statement for January.

Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended January 31
Work in process inventory, January 1 $
Direct materials:
Materials inventory, January 1 $
Purchases
Cost of materials available for use $
Materials inventory, January 31
Cost of direct materials used in production $
Direct labor
Factory overhead:
Indirect labor $
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
Total factory overhead
Total manufacturing costs incurred during January
Total manufacturing costs $
Work in process inventory, January 31
Cost of goods manufactured $

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b. Determine the cost of goods sold for January.
$

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