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  • 3.16 Prepare A Cost of Goods Sold Budget

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    David Faraon
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    Claude Company has provided a cost of goods sold budget for the year ended December 31. The budget details direct material costs of $14 million, direct labor costs of $30.4 million, and overhead costs of $2.28 million. With a beginning finished goods inventory of $49.72 million and ending finished goods inventory of $1.678 million, the projected cost of goods sold for the year is $48,041,950.

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    3.16 Prepare a Cost of Goods Sold Budget

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    Claude Company has provided a cost of goods sold budget for the year ended December 31. The budget details direct material costs of $14 million, direct labor costs of $30.4 million, and overhead costs of $2.28 million. With a beginning finished goods inventory of $49.72 million and ending finished goods inventory of $1.678 million, the projected cost of goods sold for the year is $48,041,950.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    4 views2 pages

    3.16 Prepare A Cost of Goods Sold Budget

    Uploaded by

    David Faraon
    Claude Company has provided a cost of goods sold budget for the year ended December 31. The budget details direct material costs of $14 million, direct labor costs of $30.4 million, and overhead costs of $2.28 million. With a beginning finished goods inventory of $49.72 million and ending finished goods inventory of $1.678 million, the projected cost of goods sold for the year is $48,041,950.

    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

    Claude Company

    Cost of Good Sold Budget


    For the Year Ended December 31

    Direct material used 14,000,000.00 472,500.00


    Direct labor used 30,400,000.00 1,026,000.00
    Overhead 2,280,000.00 76,950.00
    Budgeted manufacturing costs 3,040,000.00 102,600.00
    Beginning finsihed goods 49,720,000.00 1,678,050.00
    Codt of goods available for sale 49,720,000.00
    Less: Ending finished goods 1,678,050.00
    Budgeted cost of good sold 48,041,950.00
    Direct Materials 700
    Direct Labor 1520
    Overhead
    Variable 114
    Fixed 152
    Total unit cost 2486

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