Prepare a cost of goods manufactured schedule


Rocket Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Rocket's CFO, has presented you with the following cost information: Direct Materials Inventory, beginning $ 81,000 Direct Materials Inventory, ending $ 126,000 Work in Process Inventory, beginning $ 140,000 Work in Process Inventory, ending $ 95,000 Direct labor $ 790,000 Direct materials purchases $ 980,000 Insurance, factory $ 52,000 Depreciation, factory $ 27,000 Depreciation, executive offices $ 12,000 Indirect labor $ 210,000 Utilities, factory $ 17,000 Utilities, executive offices $ 9,000 Property taxes, factory $ 16,000 Property taxes, executive offices $ 12,000 Using this cost information, prepare a cost of goods manufactured schedule for Mr. Clemens.

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Accounting Basics: Prepare a cost of goods manufactured schedule
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