Reference no: EM133106760
Question - Various accounts for Ashley Corporation can be found on the "problem" worksheet. On the "worksheet" tab, prepare a schedule of cost of goods manufactured for September 2022.
Beginning raw materials inventory $794,400
Raw materials purchased (net) 2,751,300
Ending raw materials inventory 888,250
Direct labor costs 305,390
Indirect materials 151,000
Indirect labor 68,650
Factory utilities 399,430
Factory depreciation 51,000
Property taxes on office building only 4,200
Property taxes on factory building only 7,100
Property insurance on factory building only 4,700
Office maintenance 2,110
Factory maintenance 13,650
Depreciation on office equipment 5,000
Salaries for accounting personnel 126,000
Beginning work in process 795,000
Ending work in process 710,000
Required -
(a) Arrange the cost data into a statement of cost of goods manufactured.
(b) If Ashley's cost of goods sold for the month was $4,000,000, how much was the increase or decrease in finished goods inventory for the month of September?
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