ACC 350 Topic 1 Assignment

Solution :Schedule of Cost of Goods Manufactured
For Month Ending January 31, 2016.
Direct Material Used

Materials Inventory 1-1-2016$10,800.00

Add:Material Purchases$19,000.00

Total raw material available for use$29,800.00

Less:Material inventory 31/01/2016$10,300.00

$19,500.00
Direct Labor Cost
$190,000.00
Additional Services and Manufacturing Cost:

Plant Janitorial Services$700.00

Delivery Expense$1,700.00

Utilities for plant$10,000.00

Rent on Plant$13,000.00

Customer Servie Hotline Costs$18,000.00

$43,400.00
Total Manufacturing and Service Costs
$252,900.00
Add:Work in Progress Inventory 1/1/2016
$0.00
Total Work in Progress
$252,900.00
Less:Work in process inventory,31/01/2016
$21,000.00AnswerCost of goods manufactured
$231,900.00