2. Solar Technology, Inc.
Schedule of Cost of Goods Manufactured
For the Quarter Ended March 31
Direct materials:
Raw materials inventory, beginning ... $ 0
Add: Purchases of raw materials... 360,000
Raw materials available for use ... 360,000
Deduct: Raw materials inventory, ending ... 10,000
Raw materials used in production ... $350,000
Direct labor ... 70,000
Manufacturing overhead:
Maintenance, production... 43,000
Indirect labor ... 120,000
Cleaning supplies, production ... 7,000
Rental cost, facilities (80% × $75,000) ... 60,000
Insurance, production... 8,000
Utilities (90% × $80,000) ... 72,000
Depreciation, production equipment... 100,000
Total overhead costs ... 410,000
Total manufacturing costs ... 830,000
Add: Work in process inventory, beginning ... 0
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