Exercise 2-4 (15 minutes)
Lompac Products
Schedule of Cost of Goods Manufactured
Direct materials:
Beginning raw materials inventory... $ 60,000
Add: Purchases of raw materials ... 690,000
Raw materials available for use ... 750,000
Deduct: Ending raw materials inventory... 45,000
Raw materials used in production... $ 705,000
Direct labor... 135,000
Manufacturing overhead ... 370,000
Total manufacturing costs ... 1,210,000
Add: Beginning work in process inventory .... 120,000
1,330,000
Deduct: Ending work in process inventory .... 130,000
Cost of goods manufactured... $1,200,000
Bạn đang xem exercise 2- - SOLUTIONS TO QUESTION MANAGERIAL ACCOUNTING CH02 COST TERMS CONCEPT AND CLASSIFICATIONS
