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Beginning Raw Materials Inventory, Jan 1 135,000

Add: Purchases 620,000


Raw Material Available for use 755,000
Less: Ending Raw Material Dec 31 (160,000)
Raw Material Trasnfered to WIP 595,000

Beginning WIP, Jan 1 425,00


Add: WIP during the period:
Direct Material (From Raw Material Sch) 595,000
Direct Labor 405,000
Facotry Overheads:
Indirect Materials 15,000
Indirect Labor 13,000
Factory Utilities 80,000
Factory Depreciation 70,000
Factory Insurance, Maintanance and taxes 22,000 200,000 1,200,00
Total Manufacturing Cost 1,625,00
Less: Ending WIP Dec 31 625,00
Cost of goods Manufactured 1,000,00

Direct Material:
Beginning Raw Materials Inventory, Jan 1 135,000
Add: Purchases 620,000
Raw Material Available for use 755,000
Less: Ending Raw Material Dec 31 160,000
Raw Material Trasnfered to WIP 595,000
Direct Labor 405,000
Factory Overhead:
Indirect Materials 15,000
Indirect Labor 13,000
Factory Utilities 80,000
Factory Depreciation 70,000
Factory Insurance, Maintanance and taxes 22,000 200,000
Total Manufacturing Cost 1,200,000
Beginning WIP Jan 1 425,000
1,625,000
Less: Ending WIP Dec 31 625,000
Cost of Goods Manufactured 1,000,000
425,000

595,000
405,000

,000
,000
,000
,000
,000 200,000 1,200,000
1,625,000
625,000
1,000,000

135,000
620,000
755,000
160,000
595,000
405,000

15,000
13,000
80,000
70,000
22,000 200,000
1,200,000
425,000
1,625,000
625,000
1,000,000
Beginning WIP, Jan 1
Add: WIP during the period:
Direct Material (From Raw Material Sch) 595,000
Direct Labor 405,000
Facotry Overheads:
Indirect Materials 15,000
Indirect Labor 13,000
Factory Utilities 80,000
Factory Depreciation 70,000
Factory Insurance, Maintanance and taxes 22,000 200,000
Total Manufacturing Cost
Less: Ending WIP Dec 31
Cost of goods Manufactured
425,000

1,200,000
1,625,000
625,000
1,000,000
Direct Material:
Beginning Raw Materials Inventory, Jan 1 135,000
Add: Purchases 620,000
Raw Material Available for use 755,000
Less: Ending Raw Material Dec 31 160,000
Raw Material Trasnfered to WIP
Direct Labor
Factory Overhead:
Indirect Materials 15,000
Indirect Labor 13,000
Factory Utilities 80,000
Factory Depreciation 70,000
Factory Insurance, Maintanance and taxes 22,000
Total Manufacturing Cost
Beginning WIP Jan 1

Less: Ending WIP Dec 31


Cost of Goods Manufactured
595,000
405,000

200,000
1,200,000
425,000
1,625,000
625,000
1,000,000
Beginning Finished Goods Inventory, Jan 1 250,000
Add: Cost of Goods Manufcatured 1,000,000
Goods Available for Sale 1,250,000
Less: Ending Finished Goods Dec 31 190,000
Cost of Goods Sold 1,060,000

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