Reference no: EM132611155

The following data from the just completed year are taken from the accounting records of Kenton Company:

Sales $ 975,000

Direct labor cost $ 165,000

Raw material purchases $ 229,000 Selling expense $ 48,750 Administrative expenses $ 146,250 Manufacturing overhead applied to work in process $ 180,000

Actual manufacturing overhead costs $ 175,050

Inventories:

Raw materials begining $ 18,000 ending $ 17,500

Work in process begining$ 20,000 ending $ 14,750

Finished goods begining $ 9,000 ending $ 11,000

Required:

Question 1. A schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

Question 2. A schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.