Answered

Welcome to Westonci.ca, your ultimate destination for finding answers to a wide range of questions from experts. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

An incomplete cost of goods manufactured schedule is presented below.

Complete the cost of goods manufactured schedule for Riverbed Company. Assume all raw materials are direct materials.

Work in process (1/1)
$222,600
Direct materials
Raw materials inventory (1/1)
$enter a dollar amount
Add: Raw materials purchases
168,000
Total raw materials available for use
enter a total of the two previous amounts
Less: Raw materials inventory (12/31)
24,500
Direct materials used
$190,800
Direct labor
enter a dollar amount
Manufacturing overhead
Indirect labor
19,600
Factory depreciation
37,900
Factory utilities
72,600
Total overhead
130,100
Total manufacturing costs
enter a total amount for the first part
Total cost of work in process
enter a total amount for all two parts
Less: Work in process (12/31)
85,600
Cost of goods manufactured
$572,400

Sagot :

anthougo

Completing the Cost of Goods Manufactured Schedule for Riverbed Company is as follows:

Cost of Goods Manufactured Schedule

Work in process (1/1)                             $222,600

Direct materials:

Raw materials inventory (1/1)                 $ 47,300

Add: Raw materials purchases              168,000

Total raw materials available for use $215,300

Less: Raw materials inventory (12/31)     24,500

Direct materials used                          $190,800

Direct labor                                          $114,500

Manufacturing overhead:

Indirect labor                 19,600

Factory depreciation   37,900

Factory utilities             72,600

Total overhead                                       130,100

Total manufacturing cost                  $658,000

Total cost of work in process           $658,000

Less: Work in process (12/31)                85,600

Cost of goods manufactured            $572,400

What is the Schedule of Cost of Goods Manufactured?

The Schedule of Cost of Goods Manufactured shows the costs of:

  • Beginning Work in Process
  • Raw materials used
  • Direct labor
  • Overhead
  • Less Ending Work in Process.

Thus, the Schedule of Cost of Goods Manufactured for Riverbed Company shows that the cost of goods manufactured for the period is $572,400.

Learn more about preparing the Schedule of Cost of Goods Manufactured at https://brainly.com/question/24257342

#SPJ1

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.