Reference no: EM132865096
Question - As the accounting clerk, you are tasked by the CFO to determine the cost of goods sold of Del Mundo Company for the year ended December 31, 2020. During Operating cost data annd inventory account balances for 2020 is as follows:
Direct Labor 99,085
Cost of Factory Supervision 42,500
Indirect Labor 126,750
Factory Housekeeping Supplies used 8,100
Factory Utilities 29,220
Depreciation-Factory Building 46,200
Depreciation-Factory Equipment 62,800
Manufacturing Supplies used 9,460
Repairs and Maintenance 14,980
Selling and Administrative Expenses 76,480
Raw Materials Inventory, January 1 26,490
Work-in-Process Inventory, January 1 101,640
Finished Goods Inventory, January 1 148,290
Raw Materials Inventory, December 31 24,910
Work-in-Process Inventory, December 31 100,400
Finished Goods Inventory, December 31 141,100
Raw Materials purchased during the year 361,920
Required -
How much is the cost of raw/direct materials available for use?
How much is the cost of raw/direct materials used during the year?
How much is the total manufacturing overhead incurred during the year?
How much is the total manufacturing cost incurred during the year?
How much is the total goods placed in process?
How much is the cost of goods manufactured during the year?
How much is the total goods available for sale?