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29 December, 23:30

Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700, while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a $7,500 balance. Prepare a statement of cost of goods manufactured. Allen Company Statement of Cost of Goods Manufactured For the Year Ended December 31

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  1. 29 December, 23:48
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    The statement of cost of goods manufactured is given below.

    Statement of Cost of Goods Manufactured

    Direct Material $ 71,000

    Direct Labour Cost $ 37,000

    Indirect Labour Cost $ 2,700

    Indirect Material Cost $ 1,600

    Utilities $ 3,100

    Maintenance $ 4,500

    Supplies $ 1,800

    Depreciation $ 7,900

    Property Tax $ 2,600

    Total Cost $ 132,200

    o/p WIP $ 5,500

    c/l WIP ($ 7,500)

    COGM $ 130,200
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