Raw Materials Beginning 100% 100,000.

00
Add Net Purchases 160,000.00
Total Materials Available for Use 260,000.00
Less Raw Materials Ending 125% 125,000.00
Direct Materials Used 135,000.00
Direct Labor 166,666.67
Factory Overhead Control/Applied 125,000.00
Total Manufacturing Cost 426,666.67
Add Work in Process Beginning 48,333.33
Total Goods put into process 475,000.00
Less Work in Process ending 185,000.00
Cost of goods manufactured 290,000.00
Add Finished Goods Invty Beginning 65,000.00
Total Goods Available for Sale 355,000.00
Less Finished Goods Invty Ending 115,000.00
Cost of Goods Sold - Normal 240,000.00
SYM Company
Cost of Goods Sold Statement
For the month of April 2015

Raw Materials Beginning 16,000.00 AP

Add Net Purchases 80,000.00 78,000.00 10,000.00
Total Materials Available for Use 96,000.00 12,000.00 80,000.00 purchases
Less Raw Materials Ending 20,000.00 90,000.00 90,000.00
Direct Materials Used 76,000.00
Direct Labor 23,500.00
Factory Overhead Control/Applied 50,000.00 Work in Process end
Total Manufacturing Cost 149,500.00 Direct Material 2,000.00
Add Work in Process Beginning 2,000.00 Direct Labor 1,000.00
Total Goods put into process 151,500.00 FOH 1,500.00
Less Work in Process ending 4,500.00 4,500.00
Cost of goods manufactured 147,000.00
Add Finished Goods Invty Beginning 25,000.00
Total Goods Available for Sale 172,000.00
Less Finished Goods Invty Ending 7,000.00
Cost of Goods Sold - Normal 165,000.00
Add/Deduct Under/(Over) Applied Overhead 5,000.00
Cost of Goods Sold - Actual 170,000.00

FOH rate = P750,000/15,000MHrs 50.00 /MHr

DL rate = 1,000/40
Peña Manufacturing Company
Cost of Goods Sold Statement
For the year ended ____

Raw Materials Beginning (RMB) 60,000.00

Add Net Purchases IBT X 2 160,000.00
Total Materials Available for Use 220,000.00
Less Raw Materials Ending 1/3 of RMB 20,000.00
Raw Materials Used 200,000.00
Less Indirect Materials -
Direct Materials Used 50% 200,000.00
Direct Labor 30% 120,000.00
Factory Overhead Control/Applied 20% 80,000.00
Total Manufacturing Cost 400,000.00
Add Work in Process Beginning -
Total Goods put into process 400,000.00
Less Work in Process ending 25,000.00
Cost of goods manufactured 375,000.00
Add Finished Goods Invty Beginning (FGB) 25,000.00
Total Goods Available for Sale 400,000.00
Less Finished Goods Invty Ending 4 X FGB 100,000.00
Cost of Goods Sold - Normal 300,000.00

Peña Manufacturing Company

Cost of Goods Sold Statement
For the year ended ____

Sales 510,000.00
Less Sales Returns 10,000.00
Net Sales 100% 500,000.00
COGS 60% 300,000.00
Gross Profit 40% 200,000.00
Less Operating Expense
Selling 100,000.00
Administrative 20,000.00 120,000.00
Income before tax (IBT) 80,000.00
Income Tax 28,000.00
Net Income 52,000.00