Shonda Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Beginning inventory, Jan. 1, 2017 $135,000 Purchases of direct materials 260,000 Cost of direct materials available for use 395,000 Ending inventory, Dec. 31, 2017 72,000 Direct materials used $323,000 Direct manufacturing labor 210,000 Manufacturing overhead costs: Indirect manufacturing labor $95,000 Plant utilities 19,000 Depreciation-plant, building, and equipment 43,000 Plant insurance 2,000 Repairs and maintenance-plant 17,000 Equipment leasing costs 60,000 Total manufacturing overhead costs 236,000 Manufacturing costs incurred during 2017 Total manufacturing costs to account for Cost of goods manufactured

Question

Casey Lee

Business

8 July, 20:16

Shonda Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Beginning inventory, Jan. 1, 2017 $135,000 Purchases of direct materials 260,000 Cost of direct materials available for use 395,000 Ending inventory, Dec. 31, 2017 72,000 Direct materials used $323,000 Direct manufacturing labor 210,000 Manufacturing overhead costs: Indirect manufacturing labor $95,000 Plant utilities 19,000 Depreciation-plant, building, and equipment 43,000 Plant insurance 2,000 Repairs and maintenance-plant 17,000 Equipment leasing costs 60,000 Total manufacturing overhead costs 236,000 Manufacturing costs incurred during 2017 Total manufacturing costs to account for Cost of goods manufactured

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Hayden Huber · Answer 1

Manufacturing costs incurred during 2017 = $769,000

Explanation:

Giving the following information:

Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands):

Direct materials:

Beginning inventory, Jan. 1, 2017 = $135,000

Purchases of direct materials = 260,000

Cost of direct materials available for use = 395,000

Ending inventory, Dec. 31, 2017 = 72,000

Direct materials used $323,000

Direct manufacturing labor 210,000

Manufacturing overhead costs:

Indirect manufacturing labor = $95,000

Plant utilities = 19,000

Depreciation-plant, building, and equipment = 43,000

Plant insurance = 2,000

Repairs and maintenance-plant = 17,000

Equipment leasing costs = 60,000

Total manufacturing overhead costs 236,000

Manufacturing costs incurred during 2017 = direct materials used + direct labor + manufacturin overhead = 323000 + 210000 + 236000 = $769,000