Marvin Manufacturing

PROBLEM 1 Cost of Good Sold Statement

1A For the year ended December 31, 2019
2A Direct Materials used:
3 A,C Raw Materials Inventory, January 1
4A Purchases
5A Total Available for Use
6B Less: Raw Materials Inventory, December 31
7A Direct Labor
8 A,C Factory Overhead
9A Total Manufacturing Costs
10 A Add: Work in Process Inventory, January 1
11 A Cost of Good Put into Process
12 C Less: Work in Process Inventory, December 31
Cost of Goods Manufactured
Add: Finish Goods Inventory, January 1
13 A Total Goods Available For Sale
14 A Less: Finish Goods Inventory, December 31
15 C Cost of Goods Sold

PROBLEM 2
 Donna Company
Cost of Good Sold Statement
For the month ended May 31, 201
Direct Materials used:
₱ 175,000 Materials Inventory, May 1
250,000 Add: Purchases
425,000 Less: Materials Inventory, May 31
- 125,000 ₱ 300,000 Direct Labor
270,000 Factory Overhead Applied
324,000 Total Manufacturing Costs
894,000 Add: Work in Process Inventory, May 1
90,000 Cost of Good Put into Process
984,000 Less: Work in Process Inventory, May 31
- 120,000 Cost of Goods Manufactured
864,000 Add: Finish Goods Inventory, May 1
100,000 Total Goods Available For Sale
964,000 Less: Finish Goods Inventory, May 31
- 80,000 Cost of Goods Sold
₱ 884,000
PROBLEM 3
 Donna Company
ost of Good Sold Statement
he month ended May 31, 2019

₱ 124,000
107,800
entory, May 31 - 115,000 ₱ 116,800
160,000
240,000
516,800
ory, May 1 129,200
646,000
ory, May 31 - 124,000
522,000
150,000
672,000
- 122,000
₱ 550,000
a Raw Materials Inventory ₱ 180,000
Accounts Payable
To record materials purchased.

b Payroll 80,000
Withholding taxes
SSS Premiums
Phil Health Contributions
Pag- ibig Funds Contribution
Accrued Payroll
To record factory payroll.

Work in Process Inventory 60,000

Factory Overhead Control 20,000
Payroll
To record distribution of payroll in production.

c Raw Materials Inventory 20,000

Cash
To record indirect materials purchased.

d SSS Premiums 3,600

Phil Health Contributions 375
Pag- ibig Funds Contribution 1,620
Cash
To record employee tax expense.

e Work in Process Inventory

Factory Overhead Control 120,000
Materials 10,000

f Accounts Payable
Raw Materials Inventory 5,000
To record defective materials returned.

g Accounts Payable
Cash 148,300
To record payment of Accounts Payable.

h Factory Overhead Control

Accounts Payable 24,900
To record sundry factory expenses.

i Work in Process Inventory

Factory Overhead Applied 72,000
 To record factory overhead charged to production.

j Finish Goods Inventory

Work in Process Inventory 180,000
To record goods completed.

k Cash
Sales 210,000
To record sales.

Cost of Goods Sold

Finish Goods Inventory 140,000
To record cost of goods sold.
₱ 180,000

11,200
2,400
375
1,620
64,405

80,000 Direct Materials used:

Raw Materials
Add: Purchases
Less: Returned Defect
20,000 Raw Materials Net P
Less: Indirect Materia
Raw Mater
Direct Materials Issu
Direct Labor
Factory Overhead Applied
5,595 Total Manufacturing Costs
Cost of Good Put into Process
Less: Work in Process Inventory
Cost of Goods Manufactured
Total Goods Available For Sal
Less: Finish Goods Inventory, O
130,000 Cost of Goods Sold, normal
Less: Overapplied

5,000

148,300

24,900
 72,000

180,000

210,000

140,000
 Ram Company
Cost of Good Sold Statement
For the month ended October 31, 2019
Materials used:
Raw Materials ₱ 180,000
Add: Purchases 20,000
Less: Returned Defective Materials - 5,000
Raw Materials Net Purchases ₱ 195,000
Less: Indirect Materials ₱ 10,000
Raw Materials, Ending ₱ 65,000 - 75,000
Direct Materials Issued to Production 120,000
60,000
Overhead Applied 72,000
anufacturing Costs 252,000
Good Put into Process 252,000
ork in Process Inventory, October 31 - 72,000
Goods Manufactured 180,000
oods Available For Sale 180,000
ish Goods Inventory, October 31 - 40,000
Goods Sold, normal 140,000
- 11,505
128,495
Raw Materials
180000 130000 MOH
20000 5000 10000
200000 135000 24900
65000
20000
54900
-17100
175000
-20000
155000
 WIP
72000 120000 180000
72000
60000
252000 -180000
-72000 72000