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SYM Company

Statement of Cost of Good Sold no heading/ incomplete ( - 3)


For the month of May 2016

Direct Materials 4/30 16,000.00 1 pt


Add Direct Materials Purchases 80,000.00 1 pt Direct Materials 80,000.00
Total Direct Materials Available for Use 96,000.00 1 pt AP
Less Direct Materials Inventory 5/31 20,000.00
Direct Materials 76,000.00 1 pt AP 78,000.00
Direct Labor rate = 25 23,500.00 1 pt Cash
Factory Overhead - Applied rate = 50 50,000.00 1 pt
Total Manufacturing Cost 149,500.00 Work in process 76,000.00
Add Work in Process 4/30 2,000.00 DM
Total goods put into process 151,500.00 1 pt
Less Work in Process 5/31 4,500.00 1 pt Payroll 23,500.00
Cost of Goods Manufactured (COGM) 147,000.00 Accrued Payroll
Add Finished Goods Inventory 4/30 25,000.00
Total Goods Available for Sale 172,000.00 1 pt Work in Process 23,500.00
Less Finished Goods Inventory 5/31 7,000.00 Payroll
Cost of Goods Sold (COGS) - Normal 165,000.00
Add/(deduct) (Over)Under Applied OH 5,000.00 3 pt FOH - Control 55,000.00
Cost of Goods Sold (COGS) - Actual 170,000.00 1 pt Various Credits

WIP 50,000.00
FOH - Applied
24/21
FG 147,000.00
WIP

COGS 165,000.00
FG

FOH - A 50,000.00
Under Applied FO 5,000.00
FOH - C

COGS 5,000.00
Under Applied FOH
80,000.00 1 pt

AP
78,000.00 1 pt 78000 10000
12000 80000
90000 90000
76,000.00 1 pt

23,500.00 1 pt

23,500.00 1 pt

55,000.00 1 pt

50,000.00 1 pt

147,000.00 1 pt

165,000.00 1 pt

1 pt
55,000.00

5,000.00 1 pt
Journal Entries Wesley Company
Work in Process 9,000.00 Cost of Goods Manufactured
Raw Materials 9,000.00 For the month of October 2015

Payroll 5,625.00 Raw Material Beg.


Accrued Payroll 5,625.00 Add Net Purchases
Total Raw Materials Available for use
Work in Process 5,625.00 Less Raw Materials End
Payroll 5,625.00 Direct Materials Used
Direct Labor
Work in Process 3,600.00 Factory Overhead Applied
Raw Materials 3,600.00 Total Manufacturing Cost
Add Work in Process Beg
Total goods put into process
Work in Process 4,000.00 Less Work in Process End
Raw Materials 4,000.00 Cost of Goods manufactured

Payroll 4,500.00 Product A 1,000 units


Accrued Payroll 4,500.00 Materials Labor
9,000.00 5,625.00
Work in Process 4,500.00 3,600.00
Payroll 4,500.00 12,600.00 5,625.00
800 units (10,080.00) (4,575.00)
Raw Materials 25,000.00 200 units 2,520.00 1,050.00
Accounts Payable 25,000.00
Product B 2,000 units
Raw Materials 3,900.00 Materials Labor
Accounts Payable 3,900.00 4,000.00 4,500.00
6,125.00
Work in Process 6,125.00 10,125.00 4,500.00
Raw Materials 6,125.00 1500 (7,593.75) (3,750.00)
500 2,531.25 750.00
Work in Process 8,100.00
Factory Overhead Applied 8,100.00

Finished Goods 32,658.75


Work in Process 32,658.75

Factory Overhead Contro 8,100.00


Various Credits 8,100.00
ompany
Manufactured
October 2015

20,000.00
28,900.00
ble for use 48,900.00
26,175.00
22,725.00
10,125.00
8,100.00
40,950.00
-
40,950.00
8,291.25
32,658.75

Overhead
4,500.00

4,500.00
(3,660.00) > to get the cost of 800 units of finished products
840.00 4,410.00
(18,315.00)

Overhead
3,600.00

3,600.00
(3,000.00) > to get the cost of 1500 units of finished products
600.00 3,881.25
(14,343.75) 8,291.25
(32,658.75)
SYM Company
Statement of Cost of Good Sold
For the month of May 2016

Direct Materials 4/30 16,000.00


Add Direct Materials Purchases 80,000.00 Direct Materials
Total Direct Materials Available for Use 96,000.00 Accounts Payable
Less Direct Materials Inventory 5/31 20,000.00
Direct Materials 76,000.00 Accounts Payable
Direct Labor Rate = 25 23,500.00 Cash
Factory Overhead - Applied Rate = 50 50,000.00
Total Manufacturing Cost 149,500.00 Work in process
Add Work in Process 4/30 2,000.00 Direct Materials
Total goods put into process 151,500.00
Less Work in Process 5/31 4,500.00 Payroll
Cost of Goods Manufactured (COGM) 147,000.00 Accrued Payroll
Add Finished Goods Inventory 4/30 25,000.00
Total Goods Available for Sale 172,000.00 Work in Process
Less Finished Goods Inventory 5/31 7,000.00 Payroll
Cost of Goods Sold (COGS) - Normal 165,000.00
Add/(deduct) (Over)Under Applied OH 5,000.00 FOH - Control
Cost of Goods Sold (COGS) - Actual 170,000.00 Various Credits

Work in Process
FOH - Applied

Finished Goods
Work in Process

Cost of Goods Sold


Finished Goods

FOH - Applied
Under Applied FOH
FOH - Control

Cost of Goods Sold


Under Applied FOH
80,000.00
80,000.00

78,000.00 AP
78,000.00 78000 10000
12000 80000
76,000.00 90000 90000
76,000.00

23,500.00
23,500.00

23,500.00
23,500.00

55,000.00
55,000.00

50,000.00
50,000.00

147,000.00
147,000.00

165,000.00
165,000.00

50,000.00
5,000.00
55,000.00

5,000.00
Applied FOH 5,000.00