Esterlina Gevara Company

Statement of Cost of Goods Manufactured

For the Year Ended December 31, 2018

Raw Materials Inventory, 1/1/2018

Add: Purchases
Total Goods Available for Sale
Less: Raw Materials Inventory, 12/31/2018
Direct Materials Used
Direct Labor ( 10,430 x P9.5)
Manufacturing Overhead
Plant Supervision ₱ 42,500.00
Indirect Labor (20,280 x P6.25) ₱ 126,750.00
Factory Insurance ₱ 8,100.00
Factory Utilities ₱ 29,220.00
Depreciation - Factory Building ₱ 46,200.00
Depreciation - Factory Equipment ₱ 62,800.00
Manufacturing Suppplies ₱ 9,460.00
Repairs and Maintenance ₱ 14,980.00
Total Manufacturing Cost
Add: Work in Process, 1/1/18
Total Cost of Goods Placed in Process
Less: Work in Process, 1/31/18
Cost of Goods Manufactured
ured
18

₱ 26,490.00
₱ 361,920.00
₱ 388,410.00
₱ 24,910.00
₱ 363,500.00
₱ 99,085.00

₱ 340,010.00
₱ 802,595.00
₱ 101,640.00
₱ 904,235.00
₱ 100,400.00
₱ 803,835.00
 Solution and Computation Table
Statement of Cost of Goods Manufactured
Appropriate Account
Total Goods Available for Sale
Direct Materials Used
Direct Labor
Indirect Labor
Manufacturing Overhead
Total Manufacturing Cost
Total Cost of Goods Placed in Process
Cost of Goods Manufactured
n and Computation Table
f Cost of Goods Manufactured
Formula and Equation Used
G7+G8
G9-G10
10,430 x P9.5
20,280 x P6.25
SUM(F14:F21)
G11+G12+G21
G22+G23
G24-G25
DAX
 Godofredo Cadelina Corporation
Statement of Cost of Goods Manufactured
For the Year Ended Dec. 31 2018

Direct Materials Used:

Raw Materials Inventory, 1/1/18
Add: Purchases - Raw Materials
Raw Materials Avaliable for Sale
Less: Raw Materials Inventory, 12/31/18
Direct Labor
Manufacturing Overhead
Indirect Labor
Depreciation - Factory Building
Depreciation - Factory Equipment
Factory Insurance Expense
Factory Supervision
Factory Supplies Expense
Factory Utilities
Amortization of Patents
Property Taxes - Factory Site
Repairs and Maintenance - Factory Equipment
Total Manufacturing Costs
Add: Work in Process, 1/1/18
Total Cost of Goods Placed in Process
Less: Work in Process, 12/31/18
Cost of Goods Manufactured
Corporation
ds Manufactured
Dec. 31 2018

₱ 60,000.00
₱ 313,000.00
₱ 373,000.00
₱ 78,000.00 ₱ 295,000.00
₱ 250,000.00

₱ 26,000.00
₱ 133,000.00
₱ 78,000.00
₱ 62,000.00
₱ 74,000.00
₱ 21,000.00
₱ 115,000.00
₱ 16,000.00
₱ 14,000.00
₱ 31,000.00 ₱ 570,000.00
₱ 1,115,000.00
₱ 8,000.00
₱ 1,123,000.00
₱ 9,000.00
₱ 1,114,000.00
 Godofredo Cadelina Corporation
Statement of Cost of Goods Sold
For the Year Ended December 31, 2018

Cost of Goods Sold

Merchandise Inventory, 1/1/2018 ₱ 15,000.00
Add: Cost of Goods Manufactured ₱ 1,114,000.00
Total Goods Available for Sales ₱ 1,129,000.00
Less: Finished Goods Inventory, 12/31/2018 ₱ 12,500.00
Cost of Goods Sold ₱ 1,116,500.00

Godofredo Cadelina Corporation

Income Statement
For the Year Ended December 31, 2018

Sales
Gross Sales
Less: Cost of Goods Sold
Gross Profit
Operating Expenses
Selling Expenses
Advertising Expense ₱ 85,000.00
Uncollectible Account Expense ₱ 28,000.00
Depreciation Expense-office Equipment ₱ 37,000.00
Miscellaneous Expense ₱ 55,000.00
Salaries expense ₱ 150,000.00
Total Operating expenses
Operating Profit
Less: Interest Expense
Net Profit
₱ 1,630,000.00
₱ 1,116,500.00
₱ 513,500.00

₱ 355,000.00
₱ 158,500.00
₱ 25,000.00
₱ 133,500.00
 Solution and Computation Table
(Statement of Cost of Goods Manufactured)
Appropriate Account
Raw Materials Avaliable for Sale
Direct Materials Used
Manufacturing Overhead
Total Manufacturing Costs
Total Cost of Goods Placed in Process
Cost of Goods Manufactured

Solution and Computation Table

( Statement of Cost of Goods Sold)
Appropriate Account
Total Goods Available for Sales
Cost of Goods Sold

Solution and Computation Table

(Income Statement)
Appropriate Account
Gross Profit
Operating Expenses
Operating Profit
Net Profit
 olution and Computation Table
ment of Cost of Goods Manufactured)
Formula and Equation Used
SUM(J8:J9)
J10-J11
SUM(J14:J23)
SUM(L11:L23)
L24+L25
G11+G12+G21

olution and Computation Table

ement of Cost of Goods Sold)
Formula and Equation Used
SUM(U8:U9)
U10-U11

olution and Computation Table

(Income Statement)
Formula and Equation Used
V21-V22
SUM(U26:U30)
V23-V31
V32-V33
DAX
 Sunshine Enterprises
Statement of Cost of Goods Manufactured
For the Year Ended

Direct Materials Used:

Raw Materials Inventory, 1/1/18
Add: Purchases - Raw Materials
Freight In
Total:
Less: Direct Materials Purchases
Total Raw Materials Avaliable for Sale
Less: Raw Materials Inventory, 12/31/18
Direct Labor
Manufacturing Overhead
Indirect Labor
Factory Supplies used
Utilities Expense
Tax Expense
Insurance Expense
Depreciation Expense
Total Manufacturing Costs
Add: Work in Process, 1/1/18
Total Cost of Goods Placed in Process
Less: Work in Process, 12/31/18
Cost of Goods Manufactured
ds Manufactured

₱ 70,000.00
₱ 137,500.00
₱ 9,000.00
₱ 216,500.00
₱ 6,500.00
₱ 210,000.00
₱ 80,000.00 ₱ 130,000.00
₱ 142,500.00

₱ 50,000.00
₱ 30,000.00
₱ 15,000.00
₱ 21,000.00
₱ 6,000.00
₱ 18,000.00 ₱ 140,000.00
₱ 412,500.00
₱ 15,000.00
₱ 427,500.00
₱ 42,000.00
₱ 385,500.00
 Sunshine Enterprises
Income Statement
For the Year Ended

Sales
Sales
Less: Cost of Goods Sold (Schedule 1)
Gross Profit
Operating Expenses
Selling Expenses (Schedule 2) ₱ 60,250.00
Administrative Expenses (Schedule 3) ₱ 66,750.00
Total Operating expenses
Income before tax
Less: 30% Tax
Net Profit

Schedule 1: Cost of Goods Sold

Merchandise Inventory, Beginning ₱ 109,900.00
Add: Cost of Goods Manufactured ₱ 385,500.00
Total Goods Available for Sale ₱ 495,400.00
Less: Finished Goods Inventory, Ending ₱ 155,000.00
Cost of Goods Sold ₱ 340,400.00

Schedule 2: Selling Expenses

Sales Salaries ₱ 25,000.00
Advertising Expense ₱ 16,000.00
Utilities Expense ₱ 2,500.00
Taxes Expense ₱ 8,750.00
Insurance Expense ₱ 2,000.00
Depreciation Expense ₱ 6,000.00
Total ₱ 60,250.00
Schedule 3: Administrative Expenses
Bad Debts Expense ₱ 5,000.00
Administrative Salaries ₱ 41,000.00
Utilities Expense ₱ 7,500.00
Taxes Expense ₱ 5,250.00
Insurance Expense ₱ 2,000.00
Depreciation Expense ₱ 6,000.00
Total ₱ 66,750.00
₱ 471,000.00
₱ 340,400.00
₱ 130,600.00

₱ 127,000.00
₱ 3,600.00
₱ 1,080.00
₱ 2,520.00
 Solution and Computation Table
(Statement of Cost of Goods Manufactured)
Appropriate Account
Total Raw Materials Avaliable for Sale
Direct Materials Used
Manufacturing Overhead
Total Manufacturing Costs
Total Cost of Goods Placed in Process
Cost of Goods Manufactured

Solution and Computation Table

( Income Statement)
Appropriate Account
Gross Profit
Total Operating expenses
Manufacturing Overhead
Tax Amount
Net Profit
Cost of Goods Manufactured

Solution and Computation Table

( Schedules)
Appropriate Account
Total Goods Available for Sale
Cost of Goods Sold
Selling Expenses
Administrative Expenses
d Computation Table
t of Goods Manufactured)
Formula and Equation Used
K11-K12
K13-K14
SUM(K17:K22)
SUM(M14:M22)
M23+M24
M25-M26

d Computation Table
me Statement)
Formula and Equation Used
Z8-Z9
SUM(Y12:Y13)
SUM(K17:K22)
P 3,600 x .30
Z15-Z16
M25-M26

d Computation Table
Schedules)
Formula and Equation Used
SUM(Y22:Y23)
Y24-Y25
SUM(Y29:Y34)
SUM(Y39:Y44)
DAX