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Merchandising and Manufacturing Activities: Petter James C. Benaldo FM 22
Merchandising and Manufacturing Activities: Petter James C. Benaldo FM 22
Merchandising and Manufacturing Activities: Petter James C. Benaldo FM 22
Manufacturing Activities
PETTER JAMES C. BENALDO
FM 22
Major classifications of this cost
follow:
• Indirect materials and supplies
• Indirect labor costs
• Other indirect manufacturing costs
Manufacturing Summary xx
Raw Materials Inventory, beg. xx
Work In Process Inventory, beg. xx
Purchases- Raw Materials xx
Transportation In xx
Direct Labor xx
Indirect Labor xx
Indirect Materials xx
Depreciation Expense- Factory Bldg. xx
Repairs and Maintenance- Factory Bldg. xx
Amortization of Patents xx
Real Property Taxes xx
Factory Utilities xx
Tools Used xx
Employer’s Payroll Contributions- Factory xx
Factory Supplies Expense xx
Miscellaneous Factory Expense xx
c. To close manufacturing summary and
beginning finished goods inventory to income
summary:
Income Summary xx
Manufacturing Summary xx
Finished Goods Inventory, beg xx