Solution-Find and create schedule of cost of goods

Find and create schedule of cost of goods manufactured

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Reference no: EM132649912

Kelowna Plumbing Supplies shows the following data related to its December 31, 2020 fiscal year:

Raw materials inventory, January 1, 2020 $5,000

Raw materials inventory, December 31, 2020 8,000

Work in process inventory, January 1, 2020 23,000

Work in process inventory, December 31, 2020 21,000

Finished goods inventory, January 1, 2020 16,000

Finished goods inventory, December 31, 2020 10,000

Advertising 56,000

Factory supervisor's salary 42,000

Company president's salary 85,000

Property taxes - factory 25,000

Depreciation - factory 35,000

Factory maintenance 7,000

Sales commissions 32,000

Depreciation - office 2,000

Utilities expense - factory 23,000

Utilities expense - office 11000

Purchases of raw materials 148,000

Direct labour 160,000

Required:

Problem 1: Based on the information above, prepare Schedule of Cost of Goods Manufactured

Reference no: EM132649912

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Find and create schedule of cost of goods manufactured

Reference no: EM132649912

Reference no: EM132649912

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