Cost of goods manufactured-cost of goods sold

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Reference no: EM13790129

Cost of Goods Manufactured, Cost of Goods Sold, and Impact on Financial Statements

The accounting information system of Bosch, Inc., reported the following cost and inventory data for the year:

Costs Incurred:

Raw Materials Purchased: $125,000

Direct Labor: $75,000

Indirect Labor: $40,000

Equipment Maintenance: $10,000

Insurance on Factory: $12,000

Rent on Factory: $30,000

Equipment Depreciation: $20,000

Factory Supplies: $11,000

Advertising Expenses: $15,000

Selling and Administrative Expenses: $21,000

Raw Materials: Beginning: $10,000 Ending: $17,000

Work in Process: Beginning: $20,000 Ending: $31,000

Finished Goods: Beginning: $30,000 Endind: $25,000

Question 1: Calculate the Cost of Goods Manufactured

Question 2: Calculate the Cost of Goods Sold.

Reference no: EM13790129

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