Required:

A
Required:
A Raw Materials Inventory, Beginning 84,600.00 91,080.00 Raw Materials Inventory, Ending
Purchases- Raw Materials 311,400.00
Total 304,920.00 Direct Materials Used

Work in Process Inventory 99,360.00 114,750.00 Work in Process, End

Direct Materials Used 304,920.00
Direct Labor 450,000.00 Add: Direct Materials 18
Indirect Labor 194,220.00 Direct labor Cost 7.5
Factory Facilities 109,440.00 25.5
Repairs and maintenance- Factory Equipment 30,060.00
Rent expense- Factory Building 84,600.00 4,500 units *25.5 114,750.00
Property Taxes-factory site 19,260.00
Insurance expense- factory 16,020.00
Supplies expense- factory 34,920.00 Total Manufacturing Overhead Cost 585,000.00
Depreciation-factory 82,800.00 Total direct Labor 450,000.00
Amortization of patents 13,680.00 1.3
Total 1,324,530.00 1.3 or 1.30% Direct Labor Cost

Total Manufacturing Overhead Cost 585,000.00

 Lee Company
Statement of Cost and Goods Sold
For the Year Ending 31 December

Raw Materials Inventory, Beginning 84,600.00

Purchases- Raw Material 311,400.00
Raw Materials Available for Use 396,000.00
Less: Raw Materials Inventory, Ending 91,080.00
304,920.00
Direct Labor 450,000.00
Factory Overhead(FOH):
Indirect Labor 194,220.00
Factory Utilities 109,440.00
Repairs and maintenance- Factory Equipment 30,060.00
Rent Expense- factory Building 84,600.00
Property Taxes- Factoy site 19,260.00
Insurance Expenses- Factory 16,020.00
Supplies expense- Factory 34,920.00
Depreciation expense- Factory 82,800.00
Amortization of ptents 13,680.00 585,000.00
Total Manufacturing cost 1,339,920.00
Add: Work in Process, Beginning 99,360.00
Total Cost of Goods placed in process 1,439,280.00
Less: Work in Process, Ending 158,625.00
Total Cost Of Goods Manufactured 1,280,655.00
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