1.
Mason Company
Schedule of Cost of Goods Manufactured
Direct materials:
Raw materials inventory, beginning... $ 7 ,000
Add: Purchases of raw materials ... 118,000
Raw materials available for use... 125,000
Deduct: Raw materials inventory, ending... 15,000
Raw materials used in production... $110,000
Direct labor... 70,000
Manufacturing overhead:
Indirect labor ... 30,000
Maintenance, factory equipment ... 6,000
Insurance, factory equipment ... 800
Rent, factory facilities... 20,000
Supplies... 4,200
Depreciation, factory equipment ... 19,000
Total overhead costs ... 80,000
Total manufacturing costs... 260,000
Add: Work in process, beginning ... 10,000
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