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  • Schedule of Cost of Goods Manufactured

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    Kevin Fernando
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    The document provides a schedule of cost of goods manufactured and income statement for a company. It shows that total manufacturing costs were $896,000 and total manufacturing overhead applied was $238,000, resulting in an underallocation of manufacturing overhead of $14,000. The adjusted cost of goods sold was $913,000 after including the $14,000 underallocated overhead amount.

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    Production Cost

    Original Title

    Production Cost

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    The document provides a schedule of cost of goods manufactured and income statement for a company. It shows that total manufacturing costs were $896,000 and total manufacturing overhead applied was $238,000, resulting in an underallocation of manufacturing overhead of $14,000. The adjusted cost of goods sold was $913,000 after including the $14,000 underallocated overhead amount.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    15 views2 pages

    Schedule of Cost of Goods Manufactured

    Uploaded by

    Kevin Fernando
    The document provides a schedule of cost of goods manufactured and income statement for a company. It shows that total manufacturing costs were $896,000 and total manufacturing overhead applied was $238,000, resulting in an underallocation of manufacturing overhead of $14,000. The adjusted cost of goods sold was $913,000 after including the $14,000 underallocated overhead amount.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 2

    schedule of cost of goods manufactured.

    raw material invenary beginning 14000


    +purcahse of row materials 315000
    total availabe row material 329000
    -raw material invenary ending -22000
    raw material used in product 307000
    - indirect materials -26000
    direct materials 281000
    direct labour 377000
    manufacturing overhead applied 238000
    total manufacturing cost 896000
    +beginning work in process inventory 27000
    923000
    -ending work in process inventory -9000
    cost of good manufactured 914000

    overhead underallocated or overallocated? By how much?


    indirect materials 26000
    indirect labour 96000
    factory utilities 10000
    factory depreciation 120000
    manufacture overhead cost incurred 252000
    manufacture overhead cost applied 238000
    overhead underallocated 14000

    income statement for the year

    sale 1253000
    cost of good sale(adjested) -913000
    gross marging 340000
    selling and add.expencess
    administrative salaries -172000
    selling cost -147000
    depreciation -7000
    net oparating income 14000
    exp.
    estimate toatal manufacturing overhead 231000
    estimate total machine hours 33000
    estimate overhead rate=est.total 7
    manu.overh./est.total ho

    actual total machine hours 34000


    estimate overhead rate 7
    238000
    applied overhead =act.total
    mac*estimate over head rate

    exp.
    cost of good sale
    beginning finish good inv. 62000
    cost of god manufacture 914000
    good avalabale for sale 976000
    ending finsh good inventery -77000
    unadjested cost of good sale 899000
    underallocated overhead 14000
    adjested cost of good sale 913000

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