Hamish Amish Production Company

Manufacturing Cost Data

January 31, 2023
Input Area:
Estimates for Year
Depreciation on plant $ 2,400
Factory janitorial and maintenance labor cost 1,400
Property tax on plant 6,800
Accounting department salary 500
Insurance on plant 1,250
Assembly line workers wages 22,500

Data for January

Sales $ 114,100
Janitorial and maintenance labor cost 1,200
Property tax on plant 7,300
Insurance on plant 1,400
Depreciation on plant 2,300
Raw materials inventory beginning inventory 5,000
Raw materials inventory ending inventory 2,200
Purchases of raw materials 19,300
Work in process beginning inventory 7,200
Work in process ending inventory 7,900
Finished goods beginning inventory 15,000
Finished goods ending inventory 12,200
Assembly line workers wages 19,000
January 1, 2023

Impact Area:
Financial Statements
Hamish Amish Production Company
Cost of Goods Manufactured Schedule
For the Month Ended January 31,2023
Work in process, January 1,2023 $ 7,200
Direct materials
Raw materials inventory, January 1,2023 $ 5,000
Add: Raw materials purchases 19,300
Less: Raw materials inventory, January 31,2023 2,200
Direct materials used $ 22,100
Assembly line workers wages 19,000
Factory janitorial and maintenance labor cost 1,200
Property tax on plant 7,300
Insurance on plant 1,400
Depreciation on plant 2,300
Manufacturing overhead 12,200
Total current manufacturing costs 53,300
Total cost of work in process 60,500
Less: Work in process, January 31,2023 7,900
Cost of goods manufactured $ 52,600

Hamish Amish Production Company

Income Statement (partial)
For the Month Ended January 31,2023
Sales $ 114,100
Cost of goods sold
Finished goods inventory, January 1,2023 $ 15,000
Cost of goods manufactured 52,600
Cost of goods available for sale 67,600
Less: Finished goods inventory, January 31,2023 12,200
Cost of goods sold 55,400
Gross profit $ 58,700

Created by Shravni Ragoor

11/21/2023 15:03
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